From Financial Modeling Prep: 2024-09-27 09:40:00

Costco’s fiscal fourth-quarter revenue fell short of expectations due to reduced spending on high-ticket items and lower gas prices. CFO Gary Millerchip highlighted consumers seeking deals on electronics and home appliances. Gas prices rose 5.4%, slower than the previous quarter. E-commerce sales grew by 18.9%. Revenue edged up to $79.69 billion, with net income of $5.29 per share.

Costco raised membership fees, expecting a modest impact in the early fiscal year but significant returns later. Millerchip warned of non-linear earnings growth in 2025, with more substantial gains in the latter half of the year.



Read more at Financial Modeling Prep:: Costco Misses Revenue Estimates in Q4