Costco Reports Q1 Sales Beat, Sees 86% E-Commerce Growth

Costco Reports Q1 Sales Beat, Sees 86% E-Commerce Growth

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.

© 2020 Benzinga does not provide investment advice. All rights reserved.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.