Categories AlphaGraphs, Earnings, Retail

Costco (COST) Q3 2023 earnings drop on weak sales growth

Costco Wholesale Corporation (NASDAQ: COST) on Thursday reported a 2% increase in third-quarter 2023 revenues. However, the warehouse behemoth’s earnings declined.

Costco Q3 2023 earnings infographic

Third-quarter revenue increased 1.9% to $53.6 billion from $52.6 billion last year. Total comparable store sales grew 0.3%, while e-commerce sales declined 10%.

The company’s net income declined to $1.30 billion or $2.93 per share in the April quarter from $1.35 billion or $3.04/share in the third quarter of 2022.

Prior Performance

  • Costco-Q1-2023-Earnings-Infographic
  • Costco Q4 2022 earnings infographic
  • Costco Q3 2022 earnings infographic

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

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