UPDATE: Costco Reports 5.9% Surge In FQ3 Profit

Costco Wholesale Corp

reported a 5.9% rise in its fiscal third-quarter net profit on Wednesday. Costco reported its quarterly net profit at $324 million, or $0.73 per share, up from $306 million, or $0.68 per share, in the year-earlier period. Its revenue surged 16% to $20.19 billion. Costco's comparable sales increased 12%, or 7% excluding the positive impact from strengthening foreign currencies and inflation in gasoline prices. The latest quarter earnings included $0.07 per share of charges. However, analysts were expecting earnings of $0.77 per share on revenue of $20.14 billion. Costco shares fell 0.21% to $81.18 in after-hours trading. Read more