Costco Q3 Earnings Highlights: Revenue Miss, Same Store Sales Drop, Store Count And More
Portfolio Pulse from Chris Katje
Costco Wholesale Corp (NASDAQ:COST) reported Q3 net sales of $52.6 billion, up 1.9% YoY, and total revenue of $53.65 billion, missing the Street consensus estimate of $54.57 billion. Membership revenue was $1 billion, compared to $984 million in the year ago period. Comparable sales in the US dropped by 0.1%, while ecommerce sales declined by 10%.
May 25, 2023 | 8:33 pm
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Costco's Q3 earnings report showed a revenue miss and a drop in US comparable sales and ecommerce sales. This may negatively impact the stock price in the short term.
Costco's Q3 earnings report showed a revenue miss, which is a key metric for investors. Additionally, the drop in US comparable sales and ecommerce sales indicates potential challenges in the company's growth. These factors may lead to a negative short-term impact on the stock price.
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