Costco Wholesale Corp. shares slipped in the extended session Thursday even as the retailer reported quarterly results that beat Wall Street estimates and annual sales that topped $200 billion for the first time.
Costco
COST,
shares declined 2% after hours, following a 1.2% decline in the regular session to close at $487.17.
Costco reported fourth-quarter net income of $1.87 billion, or $4.20 a share, compared with $1.67 billion, or $3.76 a share, in the year-ago period.
Revenue rose to $72.09 billion from $62.67 billion in the year-ago quarter.
Analysts on average expected earnings of $4.17 a share on sales of $70.8 billion, according to FactSet.
Sales at stores open for at least a year rose 13.7%, in-line with Street estimates.
Annual sales crossed the $200 billion mark for the first time at $222.73 billion, rising 16% from $195.93 billion in the previous fiscal year. Analysts were forecasting $222.7 billion in sales.
Costco shares have declined 14% so far this year, while the S&P 500 index
SPX,
has fallen 21%.
Source: https://www.marketwatch.com/story/costco-reports-results-that-top-estimates-and-200-billion-annual-revenue-for-first-time-11663878847?siteid=yhoof2&yptr=yahoo