Zinger Key Points
- Costco reported financial results for the 2024 fiscal-year and fourth quarter after the market closed on Thursday.
- Costco reported quarterly EPS of $5.29 beating analysts estimate of $5.08.
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Costco Wholesale Corporation COST stock is moving lower on Friday following a Q4 revenue miss.
After the close on Thursday, Costco reported quarterly net sales of $79.69 billion, growing 1% year over year, but missing analyst estimates of $79.97 billion. EPS of $5.29 beat consensus estimates of $5.08.
Comparable sales grew across the board. The company reported a 5.3% increase in U.S. sales, a 5.5% rise in Canadian sales and a 5.7% growth in other international sales.
Analyst Changes: Following the earnings report, several analysts issued price target adjustments.
Related Link: Fed’s Preferred Inflation Gauge Comes In Below Expectations For August, Easing Concerns About Rising Prices
COST Price Action: At the time of publication, Costco shares are trading 1.85% lower at $884.73 per data from Benzinga Pro.
Image: Photo via Flickr/ Open Grid Scheduler/ Grid Engine
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