Pursuits
Costco Profit Rises, Surpasses Analysts’ Estimates
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Costco Wholesale Corp. posted a 17 percent increase in first-quarter profit, surpassing some analysts’ estimates, as membership fees boosted revenue for the largest U.S. warehouse-club chain.
Net income climbed to $312 million, or 71 cents a share, in the quarter ended Nov. 21, from $266 million, or 60 cents, a year earlier, the Issaquah, Washington-based company said today in a statement. Analysts projected 69 cents a share, the average of 22 estimates compiled by Bloomberg. Revenue rose 11 percent.