UPS (NYSE:UPS) today announced third-quarter 2016 diluted earnings per share of $1.44, a 3.6% increase over the same period last year. International operating profit increased 14% to $576 million, achieving the seventh consecutive quarter of double-digit growth. Total reported revenue was $14.9 billion, up 4.9% over the same quarter last year. Changes in fuel surcharges and currency exchange rates negatively affected revenue growth. On a currency-neutral basis, revenue increased 5.1%. In addition, lower fuel surcharge rates reduced revenue growth by approximately 50 basis points.
Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $13.64 billion for the retail month of September, the five weeks ended October 7, 2018, an increase of 10.3 percent from $12.37 billion last year.
Beginning in fiscal year 2019, the Company adopted Revenue Recognition Standard ASC 606 (ASC 606). For all of fiscal year 2019, we estimate the new standard will benefit net and comparable sales by approximately 1 percent. The second chart below excludes the impact of gasoline prices, foreign exchange, and ASC 606 on our comparable sales.
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