By Yasin Ebrahim
Investing.com - Costco (NASDAQ:COST) reported on Thursday first quarter results that topped estimates, led by double-digit same-store sales and e-commerce growth.
Costco shares lost 0.78% in after-hours trade following the report.
Costco announced earnings per share of $2.29 on revenue of $43.21 billion. Analysts polled by Investing.com anticipated EPS of $2.02 on revenue of $41.7 billion.
The company reported same-store sales of 17.1% and e-commerce sales of 86.2%.
The upside in results for the quarter was widely expected as the company released monthly sales earlier this month for November showing same-store sales increased by 13.4% and e-commerce growth of 71.3%.
Costco shares are up 26% from the beginning of the year, still down 5.15% from its 52 week high of $393.15 set on November 30. They are under-performing the Nasdaq which is up 38.26% from the start of the year.
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