March 7, 2018 / 9:29 PM / 7 months ago

Costco reports 10.8 percent rise in quarterly revenue

March 7 (Reuters) - Costco Wholesale Corp reported a 10.8 percent rise in quarterly revenue on Wednesday, fueled by higher membership fees.

Total comparable-store sales, excluding impact of fuel and currency fluctuations, rose 5.4 percent in the second quarter, while analysts on average had estimated a 5.6 percent rise, according to Thomson Reuters I/B/E/S.

Net income attributable to the company rose to $701 million, or $1.59 per share, in the quarter ended Feb. 18, from $515 million, or $1.17 per share, a year earlier.

The company had a $74 million gain in the reported quarter, related to changes in the U.S. tax law.

Total revenue rose to $33.00 billion from $29.77 billion. (Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta)

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