Costco Reports Strong Revenue Growth in Q2 2024 Earnings

Thursday, 7 March 2024, 21:21
Costco Wholesale Corporation (NASDAQ: COST) posted impressive second quarter 2024 earnings results, with total revenue reaching $58.4 billion, a notable 6% increase from the previous year. Key financial highlights include a 5.6% rise in total company comparable sales and net income of $1.74 billion, equating to $3.92 per share. Although earnings surpassed estimates, revenue fell short, leading to a 4% drop in the company's stock during after-hours trading.
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Costco Reports Strong Revenue Growth in Q2 2024 Earnings

Costco (COST) Q2 2024 Earnings: Key Financial Highlights

Costco Wholesale Corporation (NASDAQ: COST) reported second quarter 2024 earnings results today.

  1. Total revenue was $58.4 billion, up 6% compared to the same period last year.
  2. Total company comparable sales increased 5.6%.
  3. Net income was $1.74 billion, or $3.92 per share, compared to $1.46 billion, or $3.30 per share, last year.
  4. Earnings beat estimates but revenue missed expectations.
  5. The company had cash and cash equivalents of $9 billion as of February 18, 2024.

Stock Performance

The stock dropped 4% in aftermarket hours on Thursday.

Prior Performance

The post Costco (COST) Q2 2024 Earnings: Key financials and quarterly highlights first appeared on AlphaStreet.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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