FMP
Lululemon Athletica Stock Surges 6% on Q2 Beat & Raised Guidance
Sep 2, 2023 1:05 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
Lululemon Athletica (NASDAQ:LULU) shares rose more than 6% on Friday after the company surpassed expectations for the quarterly results and adjusted its outlook.
The retailer disclosed second-quarter earnings of $2.68 per share, with revenue amounting to $2.2 billion. This outperformed analyst forecasts of $2.54 per share in earnings and $2.17 billion in revenue. Notably, the total revenue demonstrated an 18% increase compared to the corresponding period last year.
Lululemon anticipates third-quarter earnings within the range of $2.23 to $2.28 per share, alongside revenue spanning $2.17 billion to $2.19 billion.
For the full year, management anticipates a profit between $12.10 and $12.17 per share, along with a revenue range of $9.51 billion to $9.57 billion.
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