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Costco Wholesale Q2 Profit Beats Street

Costco Wholesale Corp. (COST) Thursday reported a second-quarter earnings that trumped Wall Street estimates, but revenues missed expectations despite strong same-store sales over the holiday period.

Net income for the quarter rose to $889 million or $2.01 per share, from $701 million or $1.59 per share last year.

Net sales for the second quarter increased 7.3% to $34.63 billion from $32.28 billion last year.

Analysts polled by Thomson Reuters estimated earnings of $1.69 per share and revenues of $35.67 billion for the quarter.

Comparable sales for the second quarter rose 5.4%, with US increasing 7.4% and Canada down 0.3% and other international down 0.7%.

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