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Costco (NASDAQ:COST) stock is slipping on Friday following the release of the company’s earnings report for its fiscal fourth quarter of 2022.
That earnings report starts with diluted earnings per share of $4.20 for the quarter. This comes in above the $4.17 per share that Wall Street was expecting. It’s also an improvement over the $3.76 per share reported in the same period of the year prior.
To go along with that, Costco reported revenue of $72.09 billion for fiscal Q4. Yet again, that’s better than the $72 billion in revenue that analysts were looking for during the quarter. It’s also a 15.2% increase year-over-year from $61.44 billion.
Profit Data is Pulling COST Stock Down
While all of that above is positive news, there’s still one thing dragging down COST stock today. The company’s profit margins for the quarter slipped 10.18%. That comes as inflation starts to weigh on the retailer.
Richard Galanti, CFO of Costco, said the following in a conference call, according to TheStreet.com.
“In terms of membership fees and a possible increase, there are no specific plans regarding a fee increase at this time. We’re pleased with our growth in both top line sales and membership households over the last several quarters and in member loyalty as reflected in increasing member renewal rates.”
COST stock is down 1.6% as of pre-market trading on Friday morning.
Investors looking for more recent stock market news will want to keep reading!
InvestorPlace is home to all of the latest stock market news traders need to know about for Friday! That includes this morning’s biggest pre-market stock movers, the latest on Luminar Technologies (NASDAQ:LAZR), as well as interest rate talks. You can find all of that at the following links!
More Friday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
- 5 Investors Still Betting Big on Luminar (LAZR) Stock
- When Will Rates Go Down?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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