Costco: Fiscal 1Q Earnings Snapshot
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.