Costco Wholesale Beats Estimates - TheStreet

Costco Wholesale

(COST) - Get Report

Tuesday beat the Street, as earnings increased 10% in its first quarter.

In the quarter ended Nov. 23, Costco earned $160.2 million, or 34 cents a share, compared with $145.7 million, or 31 cents a share, a year ago. The Thomson First Call consensus estimate was 31 cents a share.

Revenue rose 14% to $10.31 billion from $9.01 billion a year ago, with same-store sales up 11%.

The company currently operates 429 warehouses, the bulk of them in the U.S., where members can buy a wide variety of food and other goods at reduced prices.

In its earnings news release, the Issaquah, Wash.-based company didn't comment on or qualify its performance, pending a conference call later Tuesday.

Recently, its shares were up 26 cents, or 0.7%, to $36.14 in premarket trading.