American retail giant Costco Wholesale Corp. saw a double-digit climb both in its top and bottom line during the fourth quarter of the fiscal year 2022, the company announced in a filing.
- Net income for the fourth quarter stood at $1.670 billion, up from the $1.389 billion the same period the previous year. Diluted earnings per share jumped to $3.76 from $3.13.
- The quarter was hit by a write-off of information technology assets worth $84 million pre-tax or $0.14 per diluted share. Last year was hit by higher expenses related to COVID-19 worth $281 million.
- Full-year revenue grew to $195.929 billion from $166.761 billion, and net income rose to $5.007 billion from $4.002 billion. Diluted earnings per share increased to $5.007 per share from $4.002.
Costco ended the year with 817 warehouses, the majority or 565 of which are located in the United States. COST is up 1.51%.