Earnings Recap – March 3rd
Costco reported their second quarter earnings on Thursday, and it was impressive. They posted earnings per share of $2.92, beating expectations by 19 cents, and $51.9 billion in revenue, which also beat expectations. Most importantly, Costco saw an increase in their comparable sales, which took care of worries over saturation. However, investors didn’t like the idea of Costco slowing down, which sent their share price tumbling after hours.
Gap announced their fourth quarter results after the bell on Thursday. Earnings per share sat at a loss of 4 cents per share, although the overall year was profitable, which beat expectations, and sales of $4.53 billion, which also topped expectations. Gap had a great holiday season, which helped boost the results and boost investor confidence.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.