Costco tops Wall Street's sales and revenue expectations

Core Insights - Costco surpassed Wall Street's quarterly expectations with an 8.2% year-over-year sales increase [1] - The company reported a net income of $2 billion, or $4.50 per share, compared to $1.80 billion, or $4.04 per share, in the same quarter last year [3] - Revenue rose to $67.31 billion from $62.15 billion year-over-year, with comparable sales increasing by 5.9% in the U.S. and 6.4% globally [3] Financial Performance - Earnings per share were $4.50, exceeding the expected $4.27 [4] - Revenue of $67.31 billion was higher than the anticipated $67.14 billion [4] - Digital sales experienced a significant increase of 20.5% year-over-year [3] Membership Growth - Costco has attracted younger customers, contributing to an increase in membership sign-ups [2] - The company benefited from a membership fee increase in the U.S. and Canada, effective September 2024, which positively impacted new and renewing members [2]