Costco Earnings Meet Estimates, Sales Rise - TheStreet

Updated from 3:22 a.m. EST



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(COST) - Get Report

, the wholesale club retailer, reported first-quarter earnings in line with estimates as comparable-store sales rose 3%.

Costco earned $266 million, or 60 cents a share, in its fiscal first quarter compared with $263 million, or 60 cents a share a year earlier. Total revenue, including membership fees, was $17.3 billion, up from $16.4 billion a year earlier.

Analysts surveyed by Thomson Reuters estimated Costco would earn 60 cents in the quarter on revenue of $17.31 billion.

Shares of Costco rose 44 cents in premarket trading Thursday to $59.10.

U.S. comparable-store sales rose 1% in the first quarter, while international comparable sales gained 13%. Excluding foreign exchange and gasoline, U.S. same-store sales rose 2%, and international sales increased 8%.

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-- Reported by Joseph Woelfel in New York.

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