Costco Wholesale 2nd-quarter profit climbs partly on higher gas prices, softer dollar

Costco 2Q profit rises partly on gasoline prices

ISSAQUAH, Wash. — Costco Wholesale says its fiscal second-quarter profit rose 25 percent as revenue increased on higher gasoline prices and overseas sales increased by a softer dollar.

The wholesale club operator’s earnings increased 25 percent to $299 million, or 67 cents per share, for the period ended Feb. 14.

Quarterly results included a 3 cents-per-share charge related to an employee benefits change.

Analysts predicted a bigger profit of 72 cents per share.

Revenue climbed 11 percent to $18.74 billion, beating Wall Street’s $18.56 billion.

A key sales figure grew 9 percent, mostly on higher gas prices and the weaker dollar.

Costco Wholesale Corp. is based in Issaquah, Wash.