Costco Wholesale Corp COST reported third-quarter monetary outcomes after the market shut on Thursday. Right here’s a have a look at the important thing particulars from the report.
Q3 Earnings: Costco reported third-quarter income of $63.2 billion, beating analyst estimates of $63.19 billion. The membership-based retailer reported third-quarter adjusted earnings of $4.28 per share, beating analyst estimates of $4.13 per share, in line with Benzinga Professional.
Web gross sales for the third quarter have been up 8% year-over-year. Whole comparable gross sales have been up 5.7% on a year-over-year foundation. Right here’s a breakdown of comparable gross sales progress by area:
- Different Worldwide: up 3.2%
Membership charges got here in at $1.24 billion, up from $1.12 billion within the prior 12 months’s quarter. Costco raised the value of its annual retailer membership by 5 {dollars} in September 2024, marking the corporate’s first membership value hike since 2017.
Costco stated it operates 905 warehouses, together with 624 within the U.S. The corporate ended the quarter with roughly $13.84 billion in money and money equivalents.
Costco executives will additional talk about the quarter on a convention name with buyers and analysts at 5 p.m. ET.
COST Value Motion: Costco shares have been up 0.32% in after-hours, buying and selling at $1,008.74 on the time of publication on Thursday, in line with Benzinga Professional.
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