ISSAQUAH — Costco Wholesale Corp. on Thursday reported fiscal fourth-quarter net income of $1.1 billion.
The Issaquah-based company said it had net income of $2.47 per share. Earnings, adjusted for non-recurring costs, came to $2.69 per share. The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.54 per share.
The warehouse club operator posted revenue of $47.5 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $47.12 billion.
For the year, the company reported profit of $3.66 billion, or $8.26 per share. Revenue was reported as $152.7 billion.
In the final minutes of trading on Thursday, shares hit $289, an increase of 24 percent in the last 12 months.
