Costco: Fiscal Q2 Earnings Snapshot
ISSAQUAH, Wash. (AP) _ Costco Wholesale Corp. (COST) on Thursday reported fiscal second-quarter profit of $951 million.
The Issaquah, Washington-based company said it had net income of $2.14 per share.
The results did not meet Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.42 per share.
The warehouse club operator posted revenue of $44.77 billion in the period, exceeding Street forecasts. Six analysts surveyed by Zacks expected $44.5 billion.
Costco shares have decreased 15% since the beginning of the year, while the S&P's 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $319.04, a decrease of 0.5% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COST at https://www.zacks.com/ap/COST
