Costco Wholesale Corporation (NASDAQ: COST) reported first quarter 2023 earnings results today.
Net sales increased 8.1% to $53.44 billion compared to the same period a year ago. Comparable sales were up 6.6%.
Net income was $1.36 billion, or $3.07 per share, compared to $1.32 billion, or $2.98 per share, last year.
Both the top and bottom line numbers missed expectations.
Cash and cash equivalents amounted to $10.8 billion at the end of the quarter.