Costco Wholesale Corp. announced on Thursday that its total revenue in the third quarter of fiscal 2022 stood at $52.6 billion, jumping 16% compared to the same period a year earlier and topping estimates.

Net sales for the quarter were also up 16% to $51.6 billion. Diluted earnings per share (EPS) stood at $3.04, climbing 10% year on year and net income amounted to $1.4 billion. Comparable sales in the third quarter climbed 14.9%, with e-commerce sales up 7.4%.

Costco shares were down 0.78% in after-hours trading despite the better-than-expected results.