Costco Q2 FY24: EPS $3.92 Beats, Revenue $58.4B Misses Expectations

Costco reported its Q2 FY24 earnings with a mixed outcome. The company posted earnings per share (EPS) of $3.92, surpassing the analyst expectations of $3.64 and achieving a +9.70% YoY growth. However, Costco's revenue of $58.4 billion, a +6% YoY increase, fell short of forecasts by $0.7B against the anticipated $59.16B, indicating a +7.05% YoY growth expectation. Despite the revenue miss, the company's EPS beat and revenue growth demonstrate stronger profitability than analysts predicted. Additionally, Costco's total number of warehouses has increased to 875, marking a growth of +27 from the previous year. The company also saw a notable increase in e-commerce sales, which rose by 18.2% year-over-year, with overall company sales up by +5.8% and US sales by +4.8%.