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Costco Wholesale (COST) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Jun 5, 2025
Costco Wholesale (COST) reported revenue of $63.2B for the third quarter fiscal 2025 (Q3 FY25), +8% from a year earlier and -0.8% from the quarter before. Operating margin was 4.0%, net earnings $1.9B (3.0% of revenue).
Costco Wholesale, Q3 FY25: revenue $63.2B (+8% year over year), operating margin 4.0%, net earnings $1.9B, operating cash flow $3.5B. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $63.2B | -0.8% | +8% |
| Operating profit | $2.5B | +9% | +15% |
| Net earnings | $1.9B | +6% | +13% |
| Operating cash flow | $3.5B | — | +15% |
| Free cash flow | $2.3B | — | +20% |
What changed
Revenue was $63.2B in Q3 FY25, up 8% year over year and down 1% from the previous quarter. Foods and Sundries was the largest line at 40% of revenue. Foods and Sundries added $2.1B year over year (up 9%), 44% of the total change.
Operating profit was $2.5B, a 4.0% margin (up 0.2 points year over year). Of the extra revenue versus a year earlier, 7% reached operating profit, above the 4% margin then. Total costs grew 8% against revenue growth of 8%. The fastest-growing cost line was SG&A (+10%). Net earnings were $1.9B, up 13% year over year. The effective tax rate was 26.2%.
Operating cash flow was $3.5B (up 15% year over year), 182% of net earnings. Non-cash charges added back $0.55B of depreciation and amortization and $0.11B of share-based compensation. Working capital and other items added $0.90B. Capital expenditures of $1.1B left free cash flow of $2.3B.
Questions
What was Costco Wholesale's revenue in the third quarter fiscal 2025?
Costco Wholesale (COST) reported revenue of $63.2B for the third quarter fiscal 2025 (Q3 FY25), +8% from a year earlier and -0.8% from the quarter before.
Was Costco Wholesale profitable in the third quarter fiscal 2025?
Operating profit was $2.5B (4.0% of revenue) and net earnings $1.9B.
Source: Costco Wholesale 10-Q on SEC EDGAR.