ISSAQUAH, Wash. (AP) — ISSAQUAH, Wash. (AP) — Costco Wholesale Corp. (COST) on Thursday reported fiscal first-quarter earnings of $2 billion.
The Issaquah, Washington-based company said it had profit of $4.50 per share. Earnings, adjusted for pretax gains, were $4.34 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $4.26 per share.
The warehouse club operator posted revenue of $67.31 billion in the period, which did not meet Street forecasts. Nine analysts surveyed by Zacks expected $67.33 billion.
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