Costco Q3 Earnings Highlights: Revenue Beat, EPS Beat, No Membership Fee Increase Announced
Portfolio Pulse from Chris Katje
Costco Wholesale Corporation (NASDAQ:COST) reported strong Q3 earnings with revenue and EPS beating estimates. Revenue was $58.52 billion, up 9.1% YoY, and EPS was $3.78. Comparable same store sales increased by 6.6%, and e-commerce sales surged by 20.7%. No membership fee increase was announced, which was anticipated by investors. Shares are down 2% in after-hours trading.
May 30, 2024 | 8:28 pm
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Costco reported strong Q3 earnings with revenue and EPS beating estimates. However, no membership fee increase was announced, which was anticipated by investors. Shares are down 2% in after-hours trading.
While Costco's earnings and revenue beat estimates, the lack of a membership fee increase, which was anticipated by investors, may have led to the 2% drop in after-hours trading. The strong performance in comparable same store sales and e-commerce growth is positive, but the absence of a fee increase could be seen as a missed opportunity for additional revenue.
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IMPORTANCE 80
RELEVANCE 100