Costco (NASDAQ:COST) announced its quarterly earnings results after hours today, amassing a profit that topped what Wall Street called for, while its revenue surged more than 5% compared to the year-ago quarter, playing a role in COST stock surging close to 5% after the bell Thursday.
The Issaquah, Wash.-based retail chain said that for its second quarter of its fiscal 2019, it amassed a profit of $889 million, which was roughly $2.01 per share. The figure marked a 26.8% surge when compared to its net income of $701 million, or $1.59 per share during the same quarter in its fiscal 2018.
Analysts were calling for Costco to rake in a profit of $1.69 per share, according to a survey compiled by FactSet. The business added that its revenue for the period was up to $35.4 billion, which was nearly 7% higher than its sales of $33 billion from its second quarter of the previous fiscal year.
The Wall Street consensus estimate was calling for the chain to amass sales of $35.65 billion, according to a survey of analysts conducted by FactSet. Costco added that its comparable sales for its second quarter were up by 6.7% year-over-year, while its e-commerce sales gained 25.5%.
COST stock was sliding about 1.1% during regular trading hours today as the retail giant prepared itself to report its results for the midway point of its fiscal 2019. Despite a revenue total for the period that was below expectations, a strong showing on the earnings front was good enough to lift COST stock more than 4.8% after hours Thursday.