Costco Wholesale Q2 Earnings Highlights: Revenue Miss, EPS Beat, Sales Update And More
Portfolio Pulse from Chris Katje
Costco Wholesale Corporation (NASDAQ:COST) reported its Q2 earnings with a revenue of $58.44 billion, missing the consensus estimate of $59.16 billion, but exceeded EPS expectations with $3.92 against an estimate of $3.61. Net sales increased by 5.7% year-over-year to $57.33 billion, affected by the fiscal calendar shift. Comparable sales saw growth across all regions, with e-commerce up by 18.2%. Costco ended the quarter with 872 warehouses globally. After the report, COST shares dropped 4.26% in after-hours trading.
March 07, 2024 | 9:32 pm
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Costco's Q2 earnings report showed a revenue miss but an EPS beat, with significant growth in e-commerce and overall sales. Shares fell 4.26% in after-hours trading.
The revenue miss may concern investors, leading to a short-term negative impact on the stock price. However, the EPS beat and strong sales growth, especially in e-commerce, indicate underlying strength. The after-hours price action suggests immediate market reaction.
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