Photo credit: Tony Webster, via Wikimedia Commons
Costco Wholesale Corporation COST reported fiscal first-quarter earnings after market close Thursday.
What To Know: Costco's first-quarter revenue came in at $42.35 billion, up 16.9% year-over-year. The total came in shy of analysts’ estimates of $42.40 billion.
Earnings per share in the first quarter were $2.12, beating the Street consensus of $2.05.
Costco reported same-store sales up 15.4% year-over-year. E-commerce sales were up 86% year-over-year in the first quarter.
Why It’s Important: Costco shares are up 27% in 2020. The company has been seen as a winner in the retail space during the pandemic.
The last three analyst ratings on Costco have all had price targets above the $400 level. The strong first quarter could lead to updated price targets from analysts.
COST Price Action: Shares of Costco closed Thursday's session at $372.79 and were little changed in after-hours trading.
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