Costco Q2 earnings up 16% on international growth

Issaquah, Wash. -- Costco Wholesale Corp.'s fiscal second-quarter net income rose 16% as the chain benefited from stronger business overseas and growing membership.



Costco reported net income of $348 million for the period ended Feb. 13, up from $299 million a year ago. The results were in line with expectations.



Revenue climbed 11% to $20.88 billion, topping estimates of $20.4 billion. Same-store sales increased 7%. The figure rose 12% internationally and 5% in the United States.



The company said it continued to see strong sales of food and other household basics. It also has seen improved sales of sporting, automotive and office goods. Electronics sales, such as computers, were softer, mirroring broader spending trends.