Costco Wholesale Corp. (COST) Profit Up 10 Percent
Costco, the nation's largest wholesale club operator, said Thursday its first-quarter profit rose 10 percent amid strong demand for consumer electronics. The company expects to take a second-quarter charge as it fixes improperly priced employee stock options.
For the quarter ending Nov. 26, net income totaled $236.9 million, or 51 cents per share, compared with $215.8 million, or 45 cents per share, a year ago. Revenue climbed 9 percent to $14.15 billion from $12.93 billion last year.
Analysts surveyed by Thomson Financial were looking for earnings of 50 cents per share on sales of $14.06 billion.
For the quarter ending Nov. 26, net income totaled $236.9 million, or 51 cents per share, compared with $215.8 million, or 45 cents per share, a year ago. Revenue climbed 9 percent to $14.15 billion from $12.93 billion last year.
Analysts surveyed by Thomson Financial were looking for earnings of 50 cents per share on sales of $14.06 billion.
Labels: COST, Costco Wholesale Corp.
posted by Stock Administrator @ 9:10 PM
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