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Costco reports mixed Q3 results as sales fall short of estimates

May 30, 2024 4:32 PM

Investing.com -- Costco reported Thursday mixed fiscal third-quarter results as earnings beat, but revenue missed Wall Street estimates.

Costco Wholesale Corp (NASDAQ: COST) fell 2% in afterhours trading.

The warehouse retailer reported fiscal Q3 earnings of $3.78 a diluted share on revenue of $58.52 billion, compared with estimates for $3.71 and revenue of $58.13 billion.

Comparable sales, including gas and currency changes, increased 6.6%, beating analyst expectations of 5.9%. Excluding gas and currency changes, same-store sales rose 6.5%.

Sales in the U.S. and Canada were up 6.2% and 7.7% respectively, while international was up 7.7% in the quarter.

Membership fees rose $1.12B, up from $1.04B in the same period last year.

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