Costco beats Q1 estimates

ISSAQUAH, Wash. — Costco this week said its Q1 profits rose to nearly $1.17 billion or $2.62 per share, beating an average estimate of $2.06 among analysts surveyed by Bloomberg. Revenues of a little more than $43.2 billion were 17 percent higher than for the comparable period last year. Analysts had projected revenues of about $42.4 billion. The wholesaler collected 7.1 percent more in membership fees during the quarter.