Benzinga Breakdown: Costco's Q3 Earnings
EPS $1.24 vs $1.22 Est, up 6 percent YoY
Sales $26.15B vs $27.07B Est, up 2 percent Yoy
Same-store sales flat in the US, up 1 percent in Canada and down 2 percent in the rest of the world
Excluding gasoline, U.S. same-store sales were up 3 percent
No guidance was published
What This Means For Costco
Some market watchers were looking for a strong report from Costco Wholesale Corporation (NASDAQ: COST) as evidence that discount retailers are able to buck the recent trend of slumping retail results. This quarter’s earnings beat ends a two-quarter streak of missed estimates for both earnings and revenue.
What This Means For Investors
Costco shares were up 4.9 percent at $151.70. Prior to its earnings release, the company was mentioned favorably by Nomura analysts, who maintained a Buy rating and $185 price target.
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