Levi Strauss & Co. (LEVI) posted second quarter adjusted earnings per share of $0.16, topping Wall Street estimates of $0.11. Net revenue of $1.44 billion was just under the estimated $1.45 billion. The company is also raising its quarterly dividend to $0.13 from $0.12 per share.

Yahoo Finance's Julie Hyman and Josh Lipton break down the report.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Stephanie Mikulich.

Video Transcript

Let's talk about Levi Strauss that company second quarter results crossing as well.

Those shares are also trading down quickly here about 17%.

Now, the company's earnings per share beat estimates by five cents.

But the revenue a little bit below what analysts had been anticipating $1.44 billion.

The estimate for $1.45 billion the company leaving its year forecast unchanged year and those net revenues rose 8% year over year in the Americas revenue was up 17%.

But in Europe, they fell 2% and in Asia just about in line with, with last year, this was another one of those names Julie where it had run hard into the print, it was up about 40% this year.

Um You know, under Michelle Gas, new CEO relatively new on the job still.

I mean, she does, does hear in the release talk about the kind of pivot they've been making here to more of ad ad TC direct to consumer first company.

She's really trying to sound this positive, you know, confident tone here.

She's saying, listen, that, that pivot is yielding what she calls positive results around the world says she has great confidence, they're going to achieve accelerated profitable growth the rest of the year and beyond.

Um But clearly investors, at least initially here.

Uh disappointed.

No.

Uh definitely it seems that way, doesn't it?