Costco tops estimates as membership fee revenue rises 7.3% to $1.5 billion

Costco's latest results exceeded expectations, but the market focus shifted to decelerating membership-fee revenue growth, which rose 7.3% to $1.5B and slowed for a third straight quarter. Because fee income is a key indicator of pricing power and member engagement, the slowdown tempered the upside from the earnings beat, leaving the stock reaction muted and creating near-term sensitivity to demand and renewal trends.