Costco Reports Q3 Earnings Beat, Comps Up 5.5%

Photo credit: Stu pendousmat, Wikipedia

Costco Wholesale Corporation (COST) shares ticked lower in the after-hours session despite reporting a third-quarter earnings beat.

Earnings came in at $2.05 per share, beating estimates by 23 cents. Sales came in at $34.74 billion, beating estimates by $70 million. Total comparable sales were up 5.5 percent.

Highlights

  • Net sales increased 7.4 percent year over year
  • E-Commerce comparable sales up 22 percent
  • Net income was $906 million

Costco shares traded around $237.89 at time of publication, down 1.5 percent in after-hours trading. The stock closed the regular session at $241.54 per share.

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