UPDATE: Costco FQ3 Net Profit Surges 19%

Costco Wholesale Corp

reported a 19% rise in its fiscal-third-quarter earnings. Its same-store sales for the period climbed 5%. Costco's quarterly earnings surged to $386 million, or $0.88 per share, from $324 million, or $0.73 per share, in the year-ago quarter. Its sales gained to $21.85 billion from $20.19 billion. Costco's revenue, including membership fees, surged 8.2% to $22.32 billion. However, analysts were expecting a profit of $0.87 per share on revenue of $22.11 billion. Costco shares closed at $83.31 yesterday.