Costco beats on earnings as membership fee hike boosts revenue

Core Insights - Costco exceeded Wall Street's expectations for quarterly earnings and sales, driven by higher membership fees and strong sales performance [1][2] Financial Performance - Earnings per share were reported at $4.04, surpassing the expected $3.79 [1] - Revenue reached $62.15 billion, slightly above the anticipated $62.08 billion [1] - Net income increased to $1.80 billion from $1.59 billion year-over-year [1] - Revenue grew from $57.80 billion in the same quarter last year [1] Membership and Sales Growth - Membership fee revenue was $1.17 billion, exceeding the expected $1.16 billion [2] - Comparable sales rose by 5.2% year-over-year, with U.S. comparable sales also increasing by 5.2% [3] E-commerce and Stock Performance - E-commerce sales grew by 13% compared to the previous year [4] - Costco's shares have increased nearly 50% year-to-date, outperforming the S&P 500's 27% gain [4] - Shares closed at $988.39 on Thursday [4]