Costco posts higher first quarter revenue, profit helped by holiday demand

Investing.com -- Costco Wholesale Corp (NASDAQ:COST) reported higher quarterly revenue and better-than-expected profit on Thursday, as budget-conscious consumers turned to its warehouses for low-priced groceries and discretionary items.

The company’s shares were up nearly 1% at $997 in extended trading.

Total (EPA:TTEF) revenue rose nearly 7% to $62.15 billion for the quarter ended November 24. Analysts were estimating it be at $62.33 billion.

However, Costco’s profit stood out, with earnings per share at $4.04, surpassing market expectations of $3.78. Higher than $3.58, reported a year back.