Costco shares rise after retailer’s Q1 earnings beat

Shares of Costco Wholesale Corp. rose 1.1% late Thursday after the retailer reported fiscal first-quarter per-share earnings and revenue above Wall Street estimates. Costco said it earned $640 million, o $1.45 a share, in the quarter, compared with $545 million, or $1.24 a share, in the year-ago period. Revenue rose to $31.81 billion, compared with $28.1 billion a year ago. Analysts polled by FactSet had expected earnings of $1.33 a share on revenue of $31.13 billion. Comparable-store sales rose 10.5%, and e-commerce sales rose 43.5%, Costco said. The stock ended the regular Thursday session down 0.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Leave a Reply