Costco beats on earnings as membership fee hike boosts revenue
Posted: Dec 12, 2024
- Costco beat Wall Street's expectations for both earnings and revenue in the fiscal first quarter
- Earnings per share were $4.04 compared to an expected $3.79
- Revenue was $62.15 billion compared to an expected $62.08 billion
- Net income and revenue increased from the year-ago period
- Costco's membership fees grew to $1.17 billion, exceeding Wall Street's expectation
- Shares of Costco are up nearly 50% this year, closing at $988.39 on Thursday
- Costco beat Wall Street's earnings and revenue estimates
- Membership fee hike contributed to boost in revenue
- E-commerce sales rose 13% in the quarter
- Net income rose to $1.80 billion, or $4.04 per share
- Comparable sales increased 5.2% year over year
- Shares of Costco are up nearly 50% so far this year, closing at $988.39 on Thursday
What do people on Reddit think?
🚨 Reddit sentiment: mixed/positive - While there are concerns about overvaluation, there is an overall positive sentiment towards $COST's growth potential and business model Summarized comments: - Many users express regrets about not investing in $COST earlier, noting its consistent climb despite looking overvalued - Some users are concerned about $COST being overpriced, yet they admit it's a strong company with room for expansion, particularly internationally - There are sentiments that $COST has good growth prospects and business fundamentals, making it a stable choice - Users mention concerns about the stock being 'priced for perfection,' with some discussions on its valuations being high - Comments suggest some excitement about possible stock splits as $COST approaches 1000 stores - There is debate on how a membership fee hike impacts the company, with some surprised by the earlier negative reactions Stock tickers discussed: $COST
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