Costco Wholesale Corporation (NASDAQ: COST), which operates a chain of membership warehouses, Thursday reported higher earnings and sales for the third quarter. Earnings also came in above estimates.
Q3 revenues increased to $58.52 billion from $53.65 billion in the corresponding period of 2023. Total comparable store sales grew 6.6% during the three months.
Net income came in at $1.68 billion or $3.78 per share in the May quarter, compared to $1.30 billion or $2.93 per share in the third quarter of the prior year. The bottom line surpassed Wall Street’s estimates.