Costco reports stronger-than-expected third-quarter earnings; revenue increase by 9%

Costco Wholesale Corporation (NASDAQ: COST), which operates a network of membership warehouses, on Thursday reported higher third-quarter profits and sales. Profits were also presented above the estimates.

Third-quarter revenue rose to $58.52 billion from $53.65 billion in the same period in 2023. Total comparable store sales increased 6.6% over the three months.

Net income was $1.68 billion, or $3.78 per share, in May, compared to $1.30 billion, or $2.93 per share, in last year’s third quarter. The financial result exceeded Wall Street estimates.

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