the stock was down slightly at the end of Thursday’s session, despite the discounter’s better-than-expected third quarter results.
Costco (ticker: COST) earned $ 1.22 billion, or $ 2.75 per share, up from $ 1.89 per share a year ago. Total revenue increased 21.5% to $ 45.28 billion. Analysts were looking for EPS of $ 2.38 per share for revenue of $ 44.71 billion.
Costco stock is down 0.7% to $ 385 after hours. Stocks have gained 2.8% year-to-date, and just over 25% in the past 12 months.
As Barron’s noted earlier this week, investors were likely already betting on a Costco beat, given strong results elsewhere in the industry, both
(TGT) releasing very optimistic reports in the first quarter.
So, maybe they were hoping for more than a quarter of a rash. The company’s position as a critical value-driven retailer has allowed it to thrive during the pandemic, which has led to many months of strong same-store sales growth, although better-than-expected numbers have emerged. not always translated into gains for the stock.
In March, Costco stock fell after reporting mixed earnings in the second quarter of the fiscal year.