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Costco Reports Results That Bring the Highest Estimates and $200 Billion Annual Revenue for the First Time

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The shares of Costco Wholesale Corp. fell during Thursday’s extended session, even as the retailer reported quarterly results that beat Wall Street estimates and annual sales topped $200 billion for the first time.

Costco
COST,
-1.20%

shares fell 2% after hours, after falling 1.2% in the regular session to close at $487.17.

Costco reported fourth quarter net income of $1.87 billion, or $4.20 per share, compared to $1.67 billion or $3.76 per share in the same period a year ago.

Revenue rose to $72.09 billion, from $62.67 billion in the same quarter a year ago.

Analysts expected earnings of $4.17 per share on revenue of $70.8 billion, according to FactSet.

Sales at stores that have been open for at least a year rose 13.7%, in line with Street’s estimates.

Annual revenue crossed the $200 billion mark for the first time at $222.73 billion, up 16% from $195.93 billion in the previous fiscal year. Analysts expected revenue of $222.7 billion.

Costco shares are down 14% so far this year, while the S&P 500 index
spx,
-0.84%

has fallen by 21%.

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