Mixed Q3 earnings season with Costco beating on earnings while revenue slightly missed

From Nasdaq: 2024-09-27 18:39:00

Costco shares fell after a mixed quarterly report with a slight revenue miss but beat on earnings. Quarterly earnings up +6.1% with higher revenues and strong same-store sales growth. Costco stock has a premium valuation. So far, Q3 earnings for S&P 500 members are up +26.8% on +3.4% higher revenues with positive beats.

Despite some negative trend in Q3 earnings revisions, aggregate earnings are expected to hit all-time quarterly high. Earnings growth expected to accelerate in the coming quarters. Tech sector is expected to see +11.6% earnings growth in Q3, accounting for 39.4% of S&P 500. Tesla leads the Mag 7 earnings expectations with +17.2% growth in Q3.



Read more at Nasdaq:: Previewing the Q3 Earnings Season