Lululemon's Strong Financial Performance in Q3 2024

Lululemon Athletica Inc. experienced a significant surge in its stock price on Friday, following the release of its robust financial results for the third quarter of 2024.

The athletic apparel company reported an 8.7% increase in revenue, reaching $2.39 billion, and a gross profit of $1.4 billion. These figures exceeded Wall Street's expectations, which had forecasted revenue of $2.35 billion and a gross profit of $1.35 billion.

By 1:08 pm ET, the retailer's stock had rallied 18.67%, trading at $409.18 per share.