Costco Shares Drop Over 7% Despite Strong Underlying Demand After Q2 Revenue Misses Expectations
• Costco shares dropped over 7% after missing Q2 revenue expectations and signaling negative impact from lower gas prices • Q2 revenue was $58.44B, falling short of $59.16B forecast • Comparable sales excluding fuel/currency up 5.8%, showing underlying consumer demand remains strong • Pullback attributed to strong stock run into earnings and expected temporary reaction to financial news • Brokerages confident in Costco's ability to continue attracting customers, driving membership growth, and boosting sales through lower prices