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Costco Q1 GAAP EPS, net income beat Street expectations

Costco Wholesale Corp. fiscal first-quarter GAAP EPS and net income rose faster than analyst expectations, the company's results showed Dec. 13.

Diluted EPS for the 12 weeks ended Nov. 25 of $1.73 surpassed the S&P Global Market Intelligence mean consensus estimate for GAAP EPS of $1.62.

Net income attributable to Costco for the quarter of $767 million beat the S&P Global Market Intelligence mean consensus estimate for GAAP net income of $715.6 million.

Shares of the Issaquah, Wash.-based retailer fell 3.5% to $218.52 in after-hours trading. The company reported first-quarter results Dec. 13 after U.S. markets closed.

Same-store sales grew 8.8%, beating the S&P Global Market Intelligence mean consensus estimate of 6.3%. Excluding the effects of foreign currencies and fuel prices, same-store sales advanced 7.5%.

Net sales at the retailer grew 10% to $34.31 billion. Net sales exclude revenue Costco receives from annual membership fees that its customers pay.