UPDATE: Costco Q1 Profit Tops Expectations

Costco Wholesale COST reported a better-than-expected profit for the first quarter. The Issaquah, Washington-based company posted a quarterly profit of $496 million, or $1.12 per share, versus a year-ago profit of $425 million, or $0.96 per share. Its net sales rose 7% to $26.28 billion from $24.47 billion, while total revenue climbed 7% to $26.87 billion. However, analysts were estimating a profit of $1.09 per share on revenue of $26.92 billion. Costco's same-store sales, excluding negative impacts from gasoline price deflation and foreign exchange, climbed 7% in the quarter. In the US, same-store sales, excluding fuel, climbed 7%. Its revenue from membership fees gained 6% to $582 million, while its merchandise costs jumped 7% to $23.39 billion. Costco currently operates 671 warehouses, including 474 in the United States and Puerto Rico. Costco shares gained 1.03% to $144.52 in pre-market trading.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsprofit
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!