5/28, 10:17 PM (Source: TeleTrader)
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Costco reports $37.3B in revenue for third quarter

Retail company Costco Wholesale Corporation announced on Thursday that its fiscal third-quarter revenue amounted to $ 37.3 billion.

Net income was at $838 million or $1.89 per diluted share, lower in comparison to the same quarter of last year when the company reported net income of $906 million or $2.05 per diluted share. The deterioration comes as a result of wage and sanitation costs related to COVID-19, the company said.

Net sales increased 7.3% to $36.45 billion, from $33.96 billion last year.

Costco shares dropped by 2.08% to $309.56 in after-hours trading.

Breaking the News / SR