Costco beats Q3 revenue estimates with $69.15B in sales, digital growth of 21%
By
Laya Neelakandan
Solid neighbourhood-bakery energy. Trustworthy and warm.
Summary
Costco Wholesale reported fiscal third-quarter net sales of $69.15 billion, up 11.6% year-over-year, beating Wall Street revenue expectations. Adjusted comparable sales rose 6.6%, with digital sales surging nearly 21%. Net income for the quarter was $2.19 billion. Shares remained largely unchanged in extended trading.
Key quotes
· 5 pulledCostco Wholesale on Thursday reported an increase in net sales for its fiscal third quarter, beating Wall Street revenue expectations for the period.
The company reported net sales of $69.15 billion, up 11.6% from last year.
It said adjusted comparable sales were up 6.6% for the quarter, with digital sales up nearly 21%.
Shares of the company were largely unchanged in extended trading.
For the three-month period, Costco reported net income of $2.19 billion.
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