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Costco sales jump 11%, revenue tops Wall Street expectations
Costco Wholesale on Thursday reported an increase in net sales for its fiscal third quarter, beating Wall Street revenue expectations for the period.
The company reported net sales of $69.15 billion, up 11.6% from last year. It said adjusted comparable sales were up 6.6% for the quarter, with digital sales up nearly 21%.
Here's how Costco performed in the period ended May 10 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
For the three-month period, Costco reported net income of $2.19 billion, or $4.93 per share, compared with $1.9 billion, or $4.28 per share, the year prior. Revenue rose to $70.53 billion from $63.2 billion in the year-ago period.
Costco smashes comparable sales expectations, outpaces big box peers (COST:NASDAQ)
Costco Wholesale Corporation (COST) dipped slightly in postmarket trading on Thursday after disclosing its fiscal third-quarter earnings report. Total sales were up 11.6% to $69.2B in FQ3, which was a higher growth rate than other major retailers such as Walmart (
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