PriceSmart (PSMT) stock soared 7.10% in pre-market trading on Friday, following the release of its fiscal third-quarter financial results. The warehouse club operator, which focuses on Latin America and the Caribbean markets, reported better-than-expected revenue figures and demonstrated solid sales growth.

According to the company's latest financial report, PriceSmart's fiscal third-quarter earnings and sales showed a year-over-year increase. Most notably, merchandise sales, which constitute the majority of PriceSmart's top line, rose by an impressive 7% on a comparable basis. This strong performance in the core business segment has caught the attention of investors, contributing to the stock's significant pre-market rally.

The positive market reaction comes despite PriceSmart slightly missing earnings expectations. However, the company's ability to exceed analyst expectations on revenue and demonstrate robust sales growth appears to have overshadowed any concerns about the earnings miss. As the market opens, investors will be closely watching to see if PriceSmart can maintain this upward momentum throughout the trading session.