Costco beats revenue estimates as record gasoline volumes boost member traffic. AI Could Drive the Next Leg Higher for COST Stock.
Costco Wholesale (COST) just reported fiscal third-quarter results that beat Wall Street’s revenue expectations, but the story behind the numbers is even more compelling. Record fuel volumes attracted first-time gasoline customers, pharmacy sales increased due to demand for the drug GLP-1, and digital traffic increased 37%. With membership renewal rates stabilizing and fee refunds to…