After Hours Action: Why Costco Shares Are Sliding

Costco Wholesale Corp COST shares are trading lower in Thursday's after-hours session after the company reported financial results.

Costo reported fiscal third-quarter revenue of $52.6 billion, which beat the estimate of $51.76 billion, according to data from Benzinga Pro. The retailer reported quarterly earnings of $3.04 per share, which beat the estimate of $3.03 per share.

Costco said its earnings included a one-time $77 million pretax charge for incremental benefits awarded under the new employee agreements.

See Also: How Costco Stock Looks Headed In Q3 Earnings (And How To Play It After)

COST Price Action: Costo has traded between $375.50 and $612.57 over a 52-week period.

The stock was down 1.5% in after hours at $458 at press time. 

Photo: Mike Mozart from Flickr.