Costco profit tops estimates

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ISSAQUAH — Costco’s fiscal third-quarter net income climbed 19 percent, bolstered by increased sales and more money from membership fees.

For the three months ended May 12, the wholesale club operator earned $459 million, or $1.04 per share. That’s up from $386 million, or 88 cents per share, a year earlier.

Analysts, on average, had predicted earnings of $1.02 per share, according to FactSet.

Revenue for the company, based in Issaquah, rose 8 percent to $24.08 billion from $22.32 billion. Wall Street predicted $24.09 billion.

Revenue from membership fees, which account for much of Costco’s profit, increased to $531 million from $475 million.

Revenue from stores open at least a year, a key gauge of a retailer’s health, climbed 5 percent.