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published in Blogs
Dec 10, 2021
Costco (COST, $524.33) beats fiscal Q1 expectations

Costco (COST, $524.33) beats fiscal Q1 expectations

Costco posted first fiscal quarter earnings that exceeded analysts’ expectations.

The retail giant’s  earnings per share rose 13.7% from the year-ago quarter to $2.98; Adjusted for non-recurring gains, they were $2.97 per share.  Analysts polled by Factset were expecting $2.62 per share.

Revenue increased to $50.36 billion from $42.35 billion in the year-ago quarter. Factset survey reveals expectations of $49.65 billion.

Comparable-store sales climbed +15% in the quarter, but fell short of analysts’ expectation of 15.1%.

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