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Why Costco Stock Bounced Back From a Post-Earnings Fall

TheMotleyFool

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Why Costco Stock Bounced Back From a Post-Earnings Fall

Costco Wholesale (NASDAQ: COST) reported sizzling sales and earnings growth when it released its earnings report for the fourth quarter of fiscal 2020 last Thursday. Net sales jumped 12.5% year over year to $52.3 billion, while adjusted earnings per share reached $3.04: up 13% year over year.

Despite the strong showing, Costco stock sagged in after-hours trading on Thursday and fell sharply early in the day Friday. However, the stock has rallied since then and now sits comfortably above its Thursday closing price. Let's take a look at why investors have already changed their tune about Costco's results.