UPDATE: BJ's Wholesale Club Reports 28% Jump In Q2 Net Income

BJ's Wholesale Club Inc (NYSE: BJ) reported a 28% rise in its second-quarter net income.

BJ's reported its quarterly earnings at $45.7 million, or $0.84 per share, up from $35.7 million, or $0.67 per share, in the year-ago period. However, analysts were expecting earnings of $0.77 per share. Its revenue surged 11% y/y to $3.05 billion from $2.75 billion, versus analysts' estimates of $2.98 billion.

BJ's revenue from membership fees climbed to $51.8 million from $47.5 million. Its net sales jumped to $2.98 billion from $2.69 billion.

BJ's shares gained 1.41% to $51.23 in pre-market trading.