Costco Wholesale Posts Q2 Earnings Beat, Says Coronavirus Increasing Demand

Costco Wholesale COST reported second-quarter earnings of $2.10 per share Thursday, beating the analyst consensus estimate of $2.07.

The company reported quarterly sales of $38.26 billion, beat the analyst consensus estimate of $38.22.

This is an 8.09% increase over sales of $35.396 billion the same period last year.

February sales benefited from an uptick in consumer demand in the fourth week of the reporting period, according to Costco. The retailer attributes this to concerns over the new coronavirus and estimates the positive impact on total and comparable sales to be approximately 3%.

Costco posted net sales of $11.57 billion for the retail month of January, representing an 8% year-over-year increase.

Costco shares were trading up 0.11% at $316.10 at the time of publication in Thursday's after-hours session. The stock has a 52-week high of $325.26 and a 52-week low of $216.22.

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COSTCostco Wholesale Corp

$990.003.37%