Costco Earnings, Revenue Beat in Q2; Virus Stockpiling Boost Seen By

© Reuters. Costco Earnings, Revenue Beat in Q2 – Costco (NASDAQ:) topped fiscal second-quarter earnings and sales expectations Thursday and said it saw a late boost in sales due to customers buying extra goods in preparation any impact to daily life the novel coronavirus might have.

Shares gained 0.8% in after-hours trading.

Costco announced per share of $2.1 on revenue of $39.07 billion. Analysts polled by anticipated EPS of $2.07 on revenue of $38.23 billion. That compared to EPS of $2.01 on revenue of $35.4 billion in the same period a year before.

Comparable sales, adjusted for a late Thanksgiving, rose 7.9% overall for the quarter. U.S. comparable sales rose 8.1%.

“February sales benefited from an uptick in consumer demand in the fourth week of the reporting period,” the company said. “We attribute this to concerns over the (c)oronavirus and estimate the positive impact on total and comparable sales to be approximately three percent.”

Analysts are expecting EPS of $2 and revenue of $37.32 billion in the current quarter.

Costco shares are up 7.37% from the beginning of the year , still down 2.98% from its 52 week high of $325.26 set on February 21. They are outperforming the Nasdaq which is down 3.33% year to date.

Stay up-to-date on all of the upcoming earnings reports by visiting’s earnings calendar

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.