Lululemon Athletica Inc. Shares Surge on Strong Q3 Financial Results

The shares of Lululemon Athletica Inc. experienced a significant boost on Friday, following the release of their robust financial results for the third quarter of 2024.

The athletic apparel company disclosed that its revenue had risen by 8.7%, reaching an impressive $2.39 billion. This figure surpassed Wall Street's forecasts, which had predicted revenue of $2.35 billion.

Additionally, Lululemon reported a gross profit of $1.4 billion, also exceeding the anticipated $1.35 billion. These strong financials led to a stock rally of 18.67% at 1:08 pm ET, with shares selling for $409.18 apiece.