Costco’s 3rd-Quarter Profit Increases 24%

Costco Wholesale Corp.’s fiscal third-quarter profit rose 24% as costs declined in the expansion of the largest U.S. chain of warehouse clubs and sales increased.

Net income rose to $130.4 million, or 28 cents a share, from $105.3 million, or 23 cents, a year earlier. Revenue rose 12% to $8.62 billion. Sales at stores open at least a year rose 6%.

Shares of Issaquah, Wash.-based Costco rose 86 cents to $39.32 on Nasdaq.