Costco 3Q profit rises 46 percent as sales climb

ISSAQUAH, Wash. (AP) - Costco Wholesale Corp. says its profit climbed 46 percent in the fiscal third quarter as sales and membership revenue both rose.

Costco, the largest wholesale club operator in the U.S., says it earned $306 million, or 68 cents per share. That's up from $210 million, or 48 cents per share, a year ago. Revenue rose 12 percent to $17.78 billion.

Thomson Reuters says analysts expected 66 cents per share and $17.63 billion in revenue.

The Issaquah, Wash., company says it gained $14 million from a reversal of a tax charge. A year ago it paid $34 million to settle a lawsuit.

Costco says sales at stores open at least a year grew 10 percent. Excluding higher gas prices and changes in currency exchange rates, those sales rose 4 percent.