Costco tops EPS but falls short on revenue
8 March 2024Broadcom 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.
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Sources: Costco Wholesale Corporation, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap
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