Costco's Q3 Earnings Surpass Expectations, Driven by Strong Sales and Digital Growth

The wholesale retailer reports significant gains in net sales and e-commerce, with a steady membership base and strategic price adjustments.

Costco's net sales hit $58.52 billion, exceeding estimates of $57.98 billion.
E-commerce sales saw a notable increase of 20.7%, led by high-demand items like gold and silver bullion.
Membership revenue reached $1.12 billion, with total paid members growing to 74.5 million.
The company expanded its partnership with Uber Grocery, enhancing delivery services across the US and Canada.
CEO Ron Vachris emphasized the company's competitive pricing strategy and future growth plans, including new store openings.