Costco: Fiscal 3Q Earnings Snapshot
ISSAQUAH, Wash. (AP) _ Costco Wholesale Corp. (COST) on Thursday reported fiscal third-quarter profit of $906 million.
The Issaquah, Washington-based company said it had profit of $2.05 per share. Earnings, adjusted for non-recurring gains, came to $1.89 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.83 per share.
The warehouse club operator posted revenue of $34.74 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $34.87 billion.
Costco shares have risen 19% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 11%. In the final minutes of trading on Thursday, shares hit $241.47, a climb of 21% in the last 12 months.