Costco (NASDAQ:COST) earnings for fiscal third quarter of 2020 have COST stock dipping lower after markets closed on Thursday. That’s due to its diluted earnings per share (EPS) of $1.89 missing Wall Street’s estimate of $2.04. The company’s revenue of $36.45 billion also comes in below analysts’ estimates of $37.52 billion.
Here’s what else is worth noting from the most recent Costco earnings report.
- Diluted per-share earnings are down 7.8% compared to $2.05 in the same period of the year prior.
- Revenue is sitting 7.3% higher than the $33.96 billion reported during the fiscal third quarter of 2019.
- Operating income of $1.18 billion is a 5.4% increase year-over-year from $1.12 billion.
- The Costco earnings report also has net income coming in at $838 million.
- That’s a 7.5% drop from the company’s net income of $906 million from the same time last year.
- Total company comparable sales were up 4.8% from fiscal Q3 of the previous year.
- The company also saw a 64.5% jump in comparable e-commerce sales during the quarter.
Costco doesn’t discuss guidance in its current earnings report. That makes sense considering the effects of the novel coronavirus on the economy. Many other companies are doing the same during the pandemic.
Costco is holding a conference call to go over the results of its fiscal Q3 earnings report. It will be available via a webcast on COST’s Investor Relations website. The call starts at 5:00 p.m. Eastern Time.
COST stock was down 1.8% after-hours Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
