Costco stock slid in late trade after posting mixed results for its Q4 report after Thursday’s closing bell.
Costco Wholesale (COST) reported earnings of $5.29 per share to beat FactSet estimates of $5.08 per share. The company reported earnings of $4.86 per share for Q4 2023. Revenue increased 1% to $79.69 billion, shy of views for $79.91 billion.
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Membership fee revenue ticked up slightly to $1.51 billion, while analysts expected $1.55 billion. Overall comparable sales rose 5.4% for the quarter, just below forecasts for 5.7% growth. U.S. same-store sales rose 5.3%.
Costco operated 891 warehouses at the end of the quarter, up from 878 at the end of Q3. The number of locations in the U.S. increased by nine to 614.
Costco Stock
COST stock fell slightly in late trading. Shares eased 0.8% to 901.44 in Thursday’s regular session.
The stock is trading low in a buy zone for a seven-week cup base. Costco broke out above the 896.67 buy point on Aug. 27.
COST stock isn’t too far off its record high of 923.83 from Sept. 13.
Costco rallied more than 36% this year through Thursday’s close.
You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison
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