Costco Profit Tops Expectations But Revenue Growth Disappoints; Stock Moves Lower

Key TakeawaysCostco reported better-than-expected earnings for the second quarter of fiscal 2024, but revenue growth was lower than analysts had anticipated.Net income came in at $1.74 billion, or $3.92 per diluted share, compared to the $1.62 billion or $3.62 per share that analysts estimated. The bottom line included a tax benefit equal to $0.21 per share.Net sales for the period rose 5.7% to $57.33 billion, below the consensus view of $57.92 billion.Costco shares fell more than 4% in after-hours trading. ...