Costco tops quarterly earnings expectations, even as sales remain soft

Costco on Tuesday reported quarterly earnings that topped Wall Street's expectations.Costco is expected to share more details about the quarter during a conference call at 5 p.m. ET.on Tuesday reported quarterly earnings that topped Wall Street's expectations, as shoppers turned to the membership club for cheaper gas, discounted prices of bulk items and more.

Here's what the membership-based warehouse club reported for the three-month period that ended Sept. 3 compared with what analyst were expecting, according to consensus estimates from LSEG, formerly known as Refinitiv:Get Southern California news, weather forecasts and entertainment stories to your inbox.Costco's net income for the fiscal fourth-quarter rose to $2.2 billion, or $4.86 per share, compared with $1.87 billion or $4.20 per share a year earlier.

Comparable sales for the company rose 1.1% year over year, but only 0.2% in the U.S. Excluding changes in gas prices, the metric rose 3.8% overall and 3.1% in the U.S.

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