Costco Profits Rise More Than 13%

By Jeremy C. Owens Markets MarketWatch Pulse

Costco Wholesale Corp. boosted profit in its fiscal first quarter, the company announced Wednesday. Costco reported net income of $545 million, or $1.24 a share, on revenue of $28.1 billion. Profit increased 13.5% from last year, while net sales gained 3%. Analysts polled by FactSet expected profit of $1.19 a share on revenue of $28.3 billion. Costco shares, which gained 1.9% to $153.85 in Wednesday's trading session, declined about 1% in after-hours trading.

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