Costco Wholesale Corp (NASDAQ:COST) reported second-quarter financial results after market close Thursday. Here are the highlights.
What Happened: Costco reported second-quarter net sales of $50.9 billion, up 16.1% year-over-year. Total revenue of $51.9 billion in the quarter beat a consensus estimate of $51.4 billion, according to Benzinga Pro.
Second-quarter revenue included $967 million from membership fees.
Costco reported second-quarter earnings per share of $2.92, beating estimates of $2.73.
Adjusted same-store sales were up 12.6% in the quarter. The U.S. and Canada regions had same-store sales growth of 11.3% and 12.4%, respectively, outpacing a 9.0% increase for the international stores.
E-commerce same-store sales were up 12.6%.
Related Link: 2 Potential Catalysts For Costco's Stock In 2022
What’s Next: Costco shared sales results for the month of February, which includes two weeks of the third quarter.
Net sales for the month of February were $16.3 billion, up 15.9% year-over-year. Same-store sales grew 12.9% in the U.S., 8.8% in Canada, and 1.3% in international markets for the month.
Overall same-store sales were up 10.6% in the month of February.
COST Price Action: Shares of Costco are down 2% to $524.81 in after-hours trading. Shares have traded between $307 and $571.48 over the last 52 weeks.
