Warehouse chain Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the third quarter of 2021. The results also topped expectations.
Third-quarter net sales grew 22% annually to $44.4 billion, aided by a 20.6% increase in comparable-store sales. Total revenues were up 22% year-over-year. The top-line exceeded the consensus forecast.
Net profit was $1.22 billion or $2.75 per share during the three-month period, up from $838 million or $1.89 per share recorded in the same period of last year. Analysts had forecast a slower growth.
Costco’s stock closed Thursday’s regular trading higher but declined in the after-hours session, soon after the announcement.
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