Costco Wholesale stock is edging lower in late trading Thursday, despite the discounter’s better-than-expected fiscal third-quarter results.
Costco (ticker: COST) earned $1.22 billion, or $2.75 a share, up from $1.89 a share in the year-ago period. Total revenue rose 21.5% to $45.28 billion. Analysts were looking for EPS of $2.38 a share on revenue of $44.71 billion.
Adjusted same-store sales, which strip out fluctuations in gasoline and foreign exchange rates, rose 15.1% for the quarter, compared with the 17.4% consensus estimate. Adjusted U.S. comparable sales climbed 15.2%, while e-commerce soared 38.2%.