Costco Q2 2024 Earnings Report

Costco's Q2 2024 financial results were announced, showcasing growth in net sales and net income.

Key Takeaways

Costco Wholesale Corporation reported a 5.7% increase in net sales for the second quarter of fiscal year 2024, reaching $57.33 billion. Net income rose to $1.743 billion, or $3.92 per diluted share, compared to $1.466 billion, or $3.30 per diluted share, in the same quarter last year. The results were positively impacted by a tax benefit related to the special dividend.

Net sales increased by 5.7% to $57.33 billion compared to the previous year.

Net income reached $1.743 billion, or $3.92 per diluted share, up from $1.466 billion, or $3.30 per diluted share, in the prior year.

Comparable sales for the total company increased by 5.6%, or 5.8% excluding gas and foreign exchange impacts.

E-commerce sales showed strong growth, with a comparable sales increase of 18.4%, or 18.2% excluding gas and foreign exchange impacts.

Total Revenue

$58.4B

Previous year: $55.3B