Costco Wholesale Tops Earnings Estimates. Why Its Stock Is Dropping.
Costco Wholesale barreled through earnings estimates, but the stock fell in premarket trading Friday as sales fell short of expectations. Shares of Costco fell 1.3% to $889.53 in premarket trading. The muted reaction to the release suggests that investors aren’t sweating the revenue miss too much, and continue to have faith that the company’s recent sales momentum won’t fade soon.