Costco tops EPS but falls short on revenue

Broadcom Inc. (NASDAQ: AVGO) wasn’t the only company releasing the latest earnings report on Thursday.

World’s second largest supermarket chain Costco Wholesale Corporation (NASDAQ: COST) also announced their results after the closing bell on Wall Street.

Costco reported revenue of $57.33 billion vs. $59.111 billion expected. Revenue rose by 5.7% year-over-year.

Earnings per share (EPS) was reported at $3.92, which was above Wall Street estimate of $3.64 per share. EPS increased by 18.78% vs. the same period the year prior.

Company overview

• Founded: September 15, 1983
• Headquarters: Issaquah, Washington, United States
• Number of employees: 316,000 (2023)
• Industry: Retail
• Key people: Hamilton E. James (Chairman), W. Craig Jelinek (President and CEO)

Stock reaction

Broadcome was up by 1.60% before the earnings call, trading at $785.59 a share. Shares rose to a new all-time high of $787.08 during the session.

The stock was down by around 4% post market after the latest results were announced.

Stock performance

• 5 day: +4.99%
• 1 month: +7.85%
• 3 months: +27.83%
• Year-to-date: +18.32%
• 1 year: +62.87%

Costco stock price targets

• Oppenheimer: $805
• Telsey Advisory Group: $785
• Wells Fargo & Company: $675
• The Goldman Sachs Group: $749
• Loop Capital: $755
• Tigress Financial: $745
• Northcoast Research: $620
• Raymond James: $670
• UBS Group: $725
• BMO Capital Markets: $700
• DA Davidson: $600
• Stifel Nicolaus: $675
• Citigroup: $630
• Evercore ISI: $650
• JP Morgan Chase & Co.: $605

Costco Wholesale Corporation is the 26th largest company in the world with a market cap of $346.60 billion, according to CompaniesMarketCap.

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Sources: Costco Wholesale Corporation, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap