Costco earnings: Revenue misses, stock slips

Published On Sep 26, 2024, 4:37 PM

Costco's recent earnings report for the fiscal fourth quarter showed a mix of positive and negative results. Earnings per share exceeded estimates at $5.29, while revenue came in slightly lower at $79.7 billion compared to expectations of $79.96 billion. Same-store sales growth was strong at 6.9%, surpassing the estimate of 6.4%, and e-commerce sales grew by 19.5%, although this was just shy of Wall Street's expectations. The company reported significant gains in non-food categories, with items like toys and home furnishings seeing double-digit growth. Despite a relatively positive outlook, the stock dipped about 1% in after-hours trading following the release. Year-to-date, Costco shares have risen by nearly 40%, outperforming the S&P 500.