Costco Wholesale Corporation (NASDAQ:COST) stock rose 1.5% in Friday pre-market trading after the company’s first-quarter sales topped expectations.
The bulk retailer posted revenue of $57.8 billion, up 6.2% year over year and above expectations of $57.72 billion. Membership fee revenue increased 8.2% to $1.08 billion.
Net income was $3.58 per share, compared to $3.07 per share a year earlier.
Total adjusted comparable sales rose 3.9%, while e-commerce comparable sales increased 6.1%. US comparable sales climbed 2.6%, compared to 8.2% in Canada and 7.1% internationally.
Ahead of the opening bell, the company's shares were up 1.5% at $640.
Costco currently operates 871 warehouses, including 600 in the US and Puerto Rico.
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