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Costco profit beats estimates, but sales miss

Dow Jones2021-12-10

Costco Wholesale Corp. on Thursday reported first-quarter profit that beat Wall Street expectations but sales that fell short of analysts' forecasts.

The company reported first-quarter net income of $1.32 billion, or $2.98 a share, compared with $1.17 billion, or $2.62 a share, in the year-ago period. Revenue increased to $49.42 billion from $42.35 billion in the year-ago quarter. Comparable-store sales rose 15% overall in the quarter, lower than analysts' expectation of 15.1%.

Analysts surveyed by FactSet had forecast earnings of $1.15 billion, or $2.62 a share, on revenue of $49.65 billion.

Costco shares $(COST)$ bounced between slight losses and gains in after-hours trading immediately after the report was released.

They had declined about 1% in the regular session to close at $524.33. The company's stock has risen about 40% so far this year, compared with the S&P 500 index's 25% increase in the same period.

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  • Viboon
    ·2021-12-10
    👍
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  • Goldlim
    ·2021-12-10
    Like pls
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  • ElvisLHS
    ·2021-12-10
    Read..pls like. Thanks in advance [10/12]
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    • SeL
      Ok
      2021-12-10
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  • Kellylohlim
    ·2021-12-10
    What now?
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  • Jialatsia
    ·2021-12-10
    Meep
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    • TW1
      Gd
      2021-12-10
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  • halohalo
    ·2021-12-10
    [smile] 
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  • EdwardKarchi
    ·2021-12-10
    Like
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