Costco (NASDAQ:COST) earnings for the retail chain’s fiscal first quarter of 2020 have COST stock down on Thursday. This is even after it reported diluted earnings per share of $1.90. That’s well above Wall Street’s estimate of $1.71. However, its revenue of $37.04 billion is below analysts’ estimates of $37.25 billion.
Now for a more in-depth dive into the most recent Costco earnings report.
- Diluted per-share earnings are up 9.83% from the $1.73 reported during the same time last year.
- Revenue comes in 5.62% above the $35.07 billion from the fiscal first quarter of 2019.
- Operating income of $1.06 billion is an 11.69% improvement from $949 million in the same period of the year prior.
- The Costco earnings report also includes a net income of $844 million.
- That’s a 10.04% increase over the company’s net income of $767 million in fiscal Q1 2019.
The Costco earnings report notes that there were a couple of factors that hurt it during the quarter. This includes Thanksgiving taking place one week later. That is responsible for a .5% decrease in total and comparable sales. Another issue was a 12% negative impact on e-commerce sales for the period.
COST stock was down slightly after the markets closed on Thursday. This erases the small gain the stock made while markets were open today.
As of this writing, William White did not hold a position in any of the aforementioned securities.
