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Costco tops EPS but falls short on revenue

8 March 2024 By Klavs Valters

Share

Broadcom Inc. (NASDAQ: AVGO) wasn’t the only company releasing the latest earnings report on Thursday.

World’s second largest supermarket chain Costco Wholesale Corporation (NASDAQ: COST) also announced their results after the closing bell on Wall Street.

Costco reported revenue of $57.33 billion vs. $59.111 billion expected. Revenue rose by 5.7% year-over-year.

Earnings per share (EPS) was reported at $3.92, which was above Wall Street estimate of $3.64 per share. EPS increased by 18.78% vs. the same period the year prior.

Company overview

  • Founded: September 15, 1983
  • Headquarters: Issaquah, Washington, United States
  • Number of employees: 316,000 (2023)
  • Industry: Retail
  • Key people: Hamilton E. James (Chairman), W. Craig Jelinek (President and CEO)

Stock reaction

Broadcome was up by 1.60% before the earnings call, trading at $785.59 a share. Shares rose to a new all-time high of $787.08 during the session.

The stock was down by around 4% post market after the latest results were announced.

Stock performance

  • 5 day: +4.99%
  • 1 month: +7.85%
  • 3 months: +27.83%
  • Year-to-date: +18.32%
  • 1 year: +62.87%

Costco stock price targets

  • Oppenheimer: $805
  • Telsey Advisory Group: $785
  • Wells Fargo & Company: $675
  • The Goldman Sachs Group: $749
  • Loop Capital: $755
  • Tigress Financial: $745
  • Northcoast Research: $620
  • Raymond James: $670
  • UBS Group: $725
  • BMO Capital Markets: $700
  • DA Davidson: $600
  • Stifel Nicolaus: $675
  • Citigroup: $630
  • Evercore ISI: $650
  • JP Morgan Chase & Co.: $605

Costco Wholesale Corporation is the 26th largest company in the world with a market cap of $346.60 billion, according to CompaniesMarketCap.

You can trade Costco Wholesale Corporation (NASDAQ: COST) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD on the MetaTrader 5 platform. To find out more, go to “Trading” then select “Share CFDs”.

GO Markets offers pre-market and after-market trading on popular US Share CFDs.

Why trade during extended hours?

  • Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
  • Reduce your risk and hedge your existing positions ahead of a new trading day
  • Extended trading hours on popular US stocks means extended opportunities

Sources: Costco Wholesale Corporation, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap

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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.