Investing.com — PriceSmart Inc (NASDAQ:) reported its fiscal second-quarter earnings after the close Thursday, beating analyst earnings expectations and matching revenue forecasts.

Earnings per share were $1.03 for revenue of $1.04billion. Investing.com analysts polled expected earnings per sharing of $1 on revenues of $1.04 Billion.

From $898.4m in the previous quarter, net merchandise sales increased 12.6% and reached $1.01 trillion.

Our team had a record-breaking second quarter with net merchandise sales exceeding $1 billion, which was the highest in company history. According to Sherry Brahmbeygui, PriceSmart chief executive officer, the positive quarter results were due in part to the net merchandise sales increase of 12.6% and the comparable net merchandise sale growth of 10.3% when compared to last year.

With its membership base increasing at an unprecedented rate, the company had a 12-month record-breaking membership renewal rate of 89.8%. 

After hours, shares edged up 0.14% on Thursday.