Costco Wholesale Q4 Earnings Top Estimates

Costco Wholesale Corp (NASDAQ:COST) reported fourth-quarter FY21 total revenue growth of 17.4% year-on-year, to $62.68 billion, beating the analyst consensus of $61.3 billion. Net sales for the quarter increased 17.5% to $61.44 billion.
Comparable sales for the quarter rose 15.5% and were up 9.4% on an adjusted basis.
Merchandise costs increased 17.9%. Selling, general and administrative expenses rose 12% Y/Y.
The operating margin was 3.6%, and operating income for the quarter rose 17.9% to $1.9 billion.
Costco held $12.18 billion in cash and equivalents as of August 29, 2021.
EPS of $3.76 includes a $0.14 per share negative impact of a write-off of certain information technology assets. Analysts expected the company to report EPS of $3.13.
Price action: COST shares are trading higher by 0.49% at $455 in premarket on the last check Friday.