Costco Wholesale reported fiscal third-quarter earnings per share of $4.93. This result fell slightly below the Wall Street consensus estimate of $4.98. Total revenue reached $70.5 billion, surpassing analyst expectations. Net income for the quarter rose 15% year-over-year to $2.19 billion. The company also reported a 21.5% surge in e-commerce sales.
Costco shares fell approximately 4% to $956.32 during the May 29 trading session. Investors focused on the earnings shortfall despite strong operational performance and revenue growth. Analysts attributed the selloff to the company's high valuation. Management warned of potential headwinds from rising fuel, transportation, and supply-chain costs.