Costco profit rises 19% in Q3, on track to open stores this year
Issaquah, Wash. -- Costco Wholesale Corp. reported Thursday that net income for the quarter ended May 6 surged 19% to $386 million, from $324 million in the same period last year.
Revenue rose 8% to $22.3 billion from $20.6 billion, beating Wall Street’s expected $22.1 billion in revenue. Same-store sales increased 5%.
The company said it plans to open six additional warehouse clubs before the end of fiscal 2012.