Costco Wholesale Corp., the largest U.S. warehouse-club chain, said fiscal third-quarter earnings rose 29% because sales of gasoline and food increased.
Net income climbed to $198.7 million, or 42 cents a share, from $153.8 million, or 33 cents, a year earlier. Sales increased 14% to $10.7 billion, the Issaquah, Wash.-based company said.
Costco's profit beat the 38-cent average estimate of analysts surveyed by Thomson First Call. Sales at stores open at least a year surged 11%.
Shares of Costco rose 63 cents to $38.07 on the NYSE.