ISSAQUAH — Costco Wholesale Corp. (COST) on Thursday reported fiscal first-quarter earnings of $844 million.
Per share, the Issaquah-based company said it had profit of $1.90. Earnings, adjusted for non-recurring gains, came to $1.73 per share. The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.70 per share.
The warehouse club operator posted revenue of $37.04 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $37.33 billion.
Costco shares have climbed 46 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 26 percent. In the final minutes of trading on Thursday, shares hit $297.34, a climb of 31 percent in the last 12 months.
