Costco gains: COSTS become higher after beating Q4 estimates

<p>Costco (NASDAQ: COST) revenues for the retail company’s fiscal fourth quarter 2019, the COST share has risen after Thursday Thursday. This is due to its diluted earnings per share (EPS) of $ 2.10 and revenue of $ 39.07 billion. These both come above Wall Street estimates of $ 2.07 per share and a turnover of $ 38.21 billion.

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Let us now take a closer look at the latest Costco earnings report.

Earnings after dilution per share increased by 4.48% from $ 2.01 during the same period last year. Revenue for the quarter is 10.37% higher than $ 35.4 billion from the fourth quarter of 2018. Operating profit of $ 1.27 billion is an increase of 5.83% compared to the previous year from $ 1.2 billion. The Costco income statement also includes a net profit of $ 931 million. That is a jump of 4.72% compared to the company’s net profit of $ 889 million during the same period the year before.

Costco also notes that sales increased during the month of February. The company attributes this to increased purchases from customers preparing for coronavirus. This comes with previous reports of increased demand in their stores. It estimates that this will lead to an increase of about 3% of total and comparable sales.

A conference call that goes over the Costco revenue report will take place at 5:00 PM Eastern Time today. Anyone who wants to listen to the conversation can do so from the company’s website Investor Relations.

THE COST increased slightly after the markets closed on Thursday.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/costco-earnings-boost-cost-stock/.

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