Costco Wholesale Q1 Net Sales $56.72B, Total Revenue $57.80B Beat $57.72B Estimate
Portfolio Pulse from Benzinga Newsdesk
Costco Wholesale (NASDAQ:COST) reported Q1 sales of $56.72 billion, missing the analyst consensus estimate of $57.72 billion by 1.73%. Despite the miss, this represents a 4.19% increase over the $54.44 billion in sales reported in the same period last year.
December 14, 2023 | 9:15 pm
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Costco's Q1 sales miss may lead to short-term negative sentiment among investors, as the company failed to meet analyst expectations, despite a year-over-year increase in sales.
Missing sales estimates can often result in a negative short-term reaction in the stock market as it may signal a slowdown in growth or an underestimation of market challenges. However, the year-over-year growth indicates underlying business strength, which may mitigate the impact.
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IMPORTANCE 75
RELEVANCE 100