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

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.

Related Link: Grace Capital's Catherine Faddis Is Bullish On Costco

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.

Photo credit: Tony Webster, via Wikimedia Commons

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsTop StoriesAfter-Hours Center
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!