Warehouse chain Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the fourth quarter of 2021. The results also topped expectations.
Fourth-quarter net sales grew 17.5% annually to $61.44 billion, aided by a 15.5% increase in comparable-store sales. Total revenues were up 17% year-over-year. The top-line exceeded the consensus forecast.
Net profit was $1.67 billion or $3.76 per share during the three-month period, up from $1.39 billion or $3.13 per share recorded in the same period of last year. Analysts had forecast a slower growth.
Read management/analysts’ comments on Costco’s Q4 results
Costco’s stock closed Thursday’s regular trading higher and gained further in the after-hours session, soon after the announcement.