Costco Wholesale Corp. said its normalized net income for the fiscal first quarter ended Nov. 23 came to $1.08 per share, compared with the S&P Capital IQ consensus estimate of $1.09 per share.
EPS increased 17.8% year over year from 92 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $477.9 million, a gain of 17.7% from $405.9 million in the year-earlier period.
The normalized profit margin increased to 1.8% from 1.6% in the year-earlier period.
Total revenue climbed 7.4% on an annual basis to $26.87 billion from $25.02 billion, and total operating expenses increased 7.2% from the prior-year period to $26.10 billion from $24.35 billion.
Reported net income grew 16.6% year over year to $495.3 million, or $1.12 per share, from $424.7 million, or 96 cents per share.
