Costco Wholesale Shares Rising After it Reports Earnings
Costco shares moved higher Thursday following its earnings report that showed revenue rose 3.2%.
Costco Wholesale (COST) - Get Report shares are rising after the company's earnings report. The company's revenue rose 3.2% to $27.47 billion, slightly below expectations. Net income totaled $545 million, or $1.24 a share, due in part from gains from a legal settlement. Same store sales rose just 1% in the US and climbed 4% in Canada. Looking at technical trading in Costco stock, the stock is set up well for a new leg in its rally. At late morning Thursday, shares of Costco were rising about 4.5% in NYSE trading.
