Costco Wholesale Corp. shares slipped in the extended session Tuesday even after the membership warehouse chain reported quarterly results that topped Wall Street estimates.
Costco
COST,
shares fell 1.5% after hours, following a 1% decline in the regular session to close at $552.96.
Costco reported fourth-quarter net income of $2.16 billion, or $4.86 a share, compared with $1.87 billion, or $4.20 a share, in the year-ago period.
Revenue rose to $78.94 billion from $72.09 billion in the year-ago quarter.
Analysts on average expected earnings of $4.82 a share on revenue of $78.81 billion, according to FactSet.
Sales at stores open for at least a year rose 1.1%, or 3.8% adjusted for gasoline and currency, compared with the 3.5% Street estimates.
Total annual revenue rose to $242.29 billion from $226.95 billion in the previous fiscal year. Analysts were forecasting $242.17 billion in revenue.
Costco shares have gained 21.1% year to date, while the S&P 500 index
SPX,
has gained 11.3%.