Warehouse behemoth Costco Wholesale Company (NASDAQ: COST) has reported a double-digit enhance in second-quarter earnings and revenues. The numbers additionally surpassed the consensus estimates.
Revenues elevated 16% year-over-year to $51.9 billion and got here in above analysts’ forecast. Complete comparable retailer gross sales grew 14.4%, whereas e-commerce gross sales rose 12.5%.
The spectacular top-line efficiency translated right into a web revenue of $1.30 billion or $2.92 per share, which is greater than $951 million or $2.14 per share reported within the second quarter of 2021. The market was in search of a smaller quantity for the newest quarter.
Learn administration/analysts’ feedback on Costco’s Q2 2022 earnings
Over the previous twelve months, Costco’s shares gained about 66%. The inventory traded decrease on Friday afternoon after opening the session at $519.50.