Lululemon jumps after it boosts outlook and posts strong earnings beat

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Pedestrians pass by a Lululemon store.

Scott Mlyn | CNBC

Lululemon Athletica Inc. on Thursday reported quarterly earnings and revenue that beat analysts’ expectations.

Shares of the company were up around 7% in after hours trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: $2.20, adjusted, vs. $1.87 cents expectedRevenue: $1.87 billion vs. $1.774 billion expected

Same store sales grew 23% which beat StreetAccount’s estimate of 17.6%.

The company also raised its full-year guidance. It said it now expects 2022 revenue of between $7.865 billion and $7.940 billion, up from the range of $7.610 billion to $7.710 billion it stated last quarter. The company also raised its adjusted earnings per share outlook to a range of $9.75 to $9.90, from last quarter’s guidance of $9.35 to $9.50 adjusted.

Net salesrose 29% percent to $1.87 billion.

This is a developing story. Check back for updates.