Sunday, July 3, 2022
July 3, 2022

Linkedin Pinterest

Costco reports $931M for second quarter

By
Published:

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.

Support local journalism

Your tax-deductible donation to The Columbian’s Community Funded Journalism program will contribute to better local reporting on key issues, including homelessness, housing, transportation and the environment. Reporters will focus on narrative, investigative and data-driven storytelling.

Local journalism needs your help. It’s an essential part of a healthy community and a healthy democracy.

Community Funded Journalism logo
Loading...