00:00It's Benzinga bringing Wall Street to Main Street.
00:02Costco posted a mixed fiscal third quarter, with sales exceeding expectations as customers
00:08sought deals at its warehouses and discounted fuel at its gas stations, according to the
00:13Wall Street Journal. The Warehouse Club posted a mixed fiscal third quarter, with total revenue
00:19rising to $70.53 billion from $63.21 billion a year earlier, topping Wall Street's estimate of
00:27$69.68 billion. Net income reached $2.19 billion, or $4.93 a share, up from $1.9 billion,
00:37or $4.28 a share, in the year prior period, falling short of the analyst estimate of $4.98 a
00:45share.
00:46Margins were pressured by higher costs and investments the company made in lowering prices
00:50on everyday items like eggs and beef. Higher gas prices drove record sales volumes across
00:56all three four-week periods of the quarter, drawing many members to Costco gas stations
01:01for the first time. For all things money, visit Benzinga.com.
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