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Costco Reports Higher Q3 Earnings

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Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings for the third quarter.

The Issaquah, Washington-based company reported a quarterly profit of $516 million, or $1.17 per share, versus a year-ago profit of $473 million, or $1.07 per share.

Its net sales for the quarter rose 1 percent to $25.52 billion from $25.23 billion, while total revenue jumped to $26.1 billion from $25.8 billion. However, analysts were expecting earnings of $1.16 per share on revenue of $26.63 billion.

Its revenue from membership fees jumped to $584 million from $561 million. Merchandise costs increased to $22.7 billion from $22.6 billion.

Comparable sales slipped 1 percent year-over-year in the quarter. Comparable sales in the U.S. gained 1 percent. Comparable sales, excluding negative impacts from gasoline price deflation and foreign exchange, gained 6 percent for the the twelve-week period.

The company currently operates 673 warehouses.

Costco shares fell 0.32 percent to $144.95 in the after-hours trading session.

Posted-In: profitEarnings News

 

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