Costco reported mixed second-quarter earnings on Thursday, missing on earnings per share but surpassing revenue expectations. For the quarter ended Feb. 16, here’s how Costco performed compared to Wall Street estimates based on LSEG data:
Earnings per share: $4.02 vs. $4.11 expected
Revenue: $63.72 billion vs. $63.13 billion expected
Second-quarter revenue increased 9% to $63.72 billion, up from $58.44 billion in the same quarter of fiscal 2024. Net sales rose 9.1% to $62.53 billion, compared to $57.33 billion in the prior-year period. Membership fees totaled $1.19 billion, up from $1.11 billion in the second quarter of 2024, with 78.4 million paid memberships and 140.6 million total cardholders. Costco’s worldwide membership renewal rate reached 90.5%, a 0.1% increase from the previous quarter.
The retailer raised its annual membership fees in September for the first time since 2017. Net income for the quarter was $1.79 billion, or $4.02 per share, compared to $1.74 billion, or $3.92 per share, in the second quarter of fiscal 2024.
Comparable sales, which include warehouses and e-commerce sites open for over a year, rose 6.8% year over year, surpassing the StreetAccount estimate of 6.4%. U.S. comparable sales grew 8.3%, while e-commerce comparable sales surged 20.9%.
— news from CNBC