Wholesale Costco
Earnings were higher than expected, but the stock fell in after-hours trading on lower-than-expected sales.
The wholesale retailer’s fiscal second-quarter revenue rose 6.5% to $54.24 billion. Factoring in an additional $1 billion in membership fees, Costco’s total revenue (ticker: COST) for the quarter was $55.3 billion, below consensus estimates of $55.6 billion, according to FactSet. The total is up from $51.9 billion a year ago.
