Costco Jumps On Stronger Than Expected Third Quarter
Investing.com -- Costco Wholesale Corp (NASDAQ:COST)shares rose modestly after-hours Thursday after the company reported better than expected profit.
The discount retailer reported fiscal third quarter earnings of $1.89 a share on revenue of $37.3 billion. Analysts had expected per-share earnings of $1.85.
Covid-related costs shaved 47 cents from per-share earnings, the company said.
Costco's comparable sales rose 14.4%, for the five weeks ended July 5, according to Briefing.com. Online sales rose 86.7% on an adjusted basis.
Shares rose 1% after the report, to $320..
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