Costco Wholesale Q3 Earnings Meet Estimates
Costco Wholesale Reports Third Quarter Results
Costco Wholesale Corp (COST) reported quarterly adjusted earnings of $4.93 per share for the quarter ended May 31, up from $4.28 in the same quarter last year. The mean expectation of 29 analysts was also $4.93 per share.
Revenue and Net Income
Revenue rose 11.6% year-over-year to $70.53 billion, beating analyst estimates of $69.81 billion. Net income for the quarter was $2.19 billion.
Stock Performance and Outlook
Costco shares gained 0.7% during the quarter and are up 16.4% year-to-date. The median 12-month price target is $1,100, about 8.8% above the last closing price. The average analyst rating is "buy."
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