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July 3, 2022

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Costco reports $931M for second quarter


ISSAQUAH — Costco Wholesale Corp. (COST) on Thursday reported fiscal second-quarter profit of $931 million.

The Issaquah-based company said it had net income of $2.10 per share.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.07 per share.

The warehouse club operator posted revenue of $39.07 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $38.37 billion.

Costco shares have risen slightly more than 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has declined slightly more than 6 percent. In the final minutes of trading on Thursday, shares hit $315.76, a rise of 44 percent in the last 12 months.

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