Costco Q4 Earnings Spotlight: EPS Beat, Revenue Beat, Comparable Sales Climb, Shares Slide
Portfolio Pulse from Adam Eckert
Costco Wholesale Corp reported its fiscal Q4 earnings, beating expectations on both EPS and revenue. Net sales increased 9.4% YoY to $77.43 billion, beating the consensus estimate of $77.9 billion. EPS was $4.86, higher than the estimated $4.79. Comparable sales were up in all regions, with the highest increase in the Other International segment at 5.5%. However, total e-commerce sales fell 0.8%. Membership fees also increased YoY. Despite the positive report, Costco shares fell 1.52% in after-hours trading.
September 26, 2023 | 9:01 pm
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Despite beating Q4 expectations, Costco's shares fell in after-hours trading. This could be due to the decrease in e-commerce sales, which is a key growth area for many retailers.
Costco's Q4 report was largely positive, with increases in net sales, EPS, and comparable sales. However, the decrease in e-commerce sales could be a concern for investors, as this is a key growth area for many retailers. This could explain the drop in share price despite the positive earnings report.
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IMPORTANCE 80
RELEVANCE 100