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UPDATE: Costco Posts Upbeat Q1 Profit

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Costco Wholesale (NASDAQ: COST) reported a 30% surge in its first-quarter profit.

Costco's quarterly earnings rose to $416 million, or $0.95 per share, from $320 million, or $0.73 per share, in the year-ago period.

Its net sales climbed 9.5% to $23.2 billion. However, analysts were projecting earnings of $0.93 per share on revenue of $23.7 billion.

Its comparable store sales increased 7%.

Costco shares closed at $98.31 yesterday.

Posted-In: profitEarnings News

 

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