AP NEWS
Click to copy
Click to copy

Costco: Fiscal 1Q Earnings Snapshot

December 13, 2018

ISSAQUAH, Wash. (AP) _ Costco Wholesale Corp. (COST) on Thursday reported fiscal first-quarter earnings of $767 million.

On a per-share basis, the Issaquah, Washington-based company said it had net income of $1.73. Earnings, adjusted for non-recurring gains, came to $1.61 per share.

The results fell short of Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.62 per share.

The warehouse club operator posted revenue of $35.07 billion in the period, which topped Street forecasts. Six analysts surveyed by Zacks expected $34.63 billion.

Costco shares have risen 22 percent since the beginning of the year, while the Standard & Poor’s 500 index has fallen roughly 1 percent. In the final minutes of trading on Thursday, shares hit $226.51, a climb of 20 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COST at https://www.zacks.com/ap/COST

All contents © copyright 2019 The Associated Press. All rights reserved.