The invention relates to a method of operating an ultrasonic flow meter by digitally sampling received signals. Acoustic wave packets are transmitted through a measuring distance in opposite directions, and the received signals are digitized at a sampling frequency being below the Nyquist-limit of two times the signal frequency of the wave packet to generate digitized under-sampled signals 31. From the digitized under-sampled signals, the difference in propagation time along the measuring distance is determined.