Costco posted first fiscal quarter earnings that exceeded analysts’ expectations.
The retail giant’s earnings per share rose 13.7% from the year-ago quarter to $2.98; Adjusted for non-recurring gains, they were $2.97 per share. Analysts polled by Factset were expecting $2.62 per share.
Revenue increased to $50.36 billion from $42.35 billion in the year-ago quarter. Factset survey reveals expectations of $49.65 billion.
Comparable-store sales climbed +15% in the quarter, but fell short of analysts’ expectation of 15.1%.