Costco stock falls after missing Q2 revenue expectations, analyst says ‘a really strong quarter’ [Video]

Shares of Costco (COST) fell sharply Friday after the company reported mixed second quarter results. Morningstar Equity Analyst Noah Rohr joined Yahoo Finance Live to provide insights into the company’s performance.
Despite missing revenue expectations, Rohr still describes the quarter as “really strong” for Costco. The company exceeded analysts’ projections for adjusted earnings per share, and its comparable sales exhibited growth in the US, Canada, and international markets. On demand, Rohr states that the retailer “broadly…continue[s] to attract consumers.” He emphasizes that as Costco continues to draw in customers, they can “leverage their fixed costs” more effectively, thereby “strengthening their competitive advantage and their cost advantage over time.”
Rohr highlights that Costco’s typical consumer “holds up a little bit better” compared to the average consumer. Noting this resilience, Rohr anticipates “volume continuing to increase at Costco” even as consumers might face pressures in the broader economy.
#yahoofinance #Costco #stockmarket
About Yahoo Finance:

Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.

– Get the latest news and data at finance.yahoo.com

– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)

– Follow Yahoo Finance on social:

X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance