Costco Wholesale Corporation reported strong financial results for the first quarter of fiscal year 2025, which ended November 24, surpassing Wall Street expectations for both earnings and revenue. Net income rose to $1.80 billion, or $4.04 per diluted share, exceeding analyst estimates of $3.81 per share.
The company's revenue reached $62.15 billion, also beating the anticipated $61.98 billion. Membership fee revenue, a key component of profitability, increased by almost 8% year-over-year, excluding foreign exchange impacts, totaling $1.17 billion. This growth was driven by an expanding member base, which reached 77.4 million paid household members.
Comparable sales for the quarter grew 5.2% year-over-year globally, with U.S. comparable sales matching this rate. E-commerce sales demonstrated robust growth, jumping 13% compared to the prior year period. These results underscore Costco's continued operational strength and its ability to attract and retain members with its value proposition.
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