Costco Wholesale Corporation (COST) recently reported an increase in its second-quarter earnings, performing better than expected compared to last year and surpassing street predictions.
The company noted a bottom line of $1.74 billion, or $3.92 per share, a substantial increase from last year's second quarter of $1.47 billion, or $3.30 per share.
On average, based on data compiled by Thomson Reuters, analysts had predicted that the company would generate $3.62 per share, excluding standard analyst ignored special items.
Costco's quarterly revenue heightened by 5.7%, reaching $58.44 billion, up from $55.27 billion during the same quarter last year.
To summarize the second quarter earnings of Costco Wholesale Corporation under the generally accepted accounting principles (GAAP), the earnings were $1.74 billion compared to $1.47 billion last year, the earnings per share (EPS) were $3.92 versus last year's $3.30, and the total revenue amounted to $58.44 billion as opposed to $55.27 billion last year.
