Market Overview

UPDATE: Costco Posts Lower FQ2 Profit

Related COST
UPDATE: Citi Initiates Coverage On Costco Wholesale Corporation
Citi Initiates Coverage On Costco Wholesale Corporation, Wal-Mart Stores, Inc. And Target Corporation
For Grocers, it's Time to Put Up or Shut Down (Fox Business)

Costco Wholesale (NASDAQ: COST) reported a 15% drop in its fiscal second-quarter profit.

Costco's quarterly profit fell to $463 million, or $1.05 per share, versus a year-ago profit of $547 million, or $1.24 per share.

Its total revenue climbed 6% to $26.3 billion. However, analysts were estimating earnings of $1.17 per share on revenue of $26.65 billion.

Costco's total same-store sales surged 5% in the quarter.

Costco shares fell 0.19% to $116.25 in after-hours trading.

Posted-In: profitEarnings News

 

Related Articles (COST)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters