Costco revenues miss estimates

Costco Wholesale Corp. reported Q2 sales of $55.27 billion, an increase of 6.5 percent but lower than analyst estimates of $55.54 billion. Revenue from membership fees rose to $1.03 billion from $967 million in the comparable period last year. Net income for the quarter came to $1.47 billion, or $3.30 per share, up from $1.30 billion ($2.92) a year earlier.