Costco sales jump 11%, revenue tops Wall Street expectations

Costco Wholesale on Thursday reported an increase in net sales for its fiscal third quarter, beating Wall Street revenue expectations for the period.

The company reported net sales of $69.15 billion, up 11.6% from last year. It said adjusted comparable sales were up 6.6% for the quarter, with digital sales up nearly 21%.

Shares of the company were largely unchanged in extended trading.

Here's how Costco performed in the period ended May 10 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

For the three-month period, Costco reported net income of $2.19 billion, or $4.93 per share, compared with $1.9 billion, or $4.28 per share, the year prior. Revenue rose to $70.53 billion from $63.2 billion in the year-ago period.

Costco said it saw paid memberships grow 4.1% for the quarter, along with a 37% increase in traffic on its website and app. Its top sales categories included pharmacy, home furnishings and gold and jewelry.

Costco has been at the forefront of a tariff dispute with the Trump administration after a Supreme Court decision invalidated some of President Donald Trump's levies on foreign imports. The retailer previously said it would lower its prices if it received tariff refunds following the Supreme Court decision.

Analysts had previously expected the company to see higher demand at the onset of the war in the Middle East because of its cheaper gas prices and value offerings that appeal to a more cost-conscious consumer.

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