By Liz Moyer
Investing.com -- Lululemon Athletica Inc (NASDAQ:LULU) shares jumped after the athleisure apparel maker beat expectations for revenue and profit in the fourth quarter.
Revenue in the quarter rose 30%, to $2.8 billion and adjusted profit was $4.40 a share. Analysts expected Lulu to report revenue of $2.7B on adjusted profit of $4.26B.
Shares of Lulu rose 9% in after-hours trading but are flat for the year.
The company also said full-year revenue rose 30% to $8.1B and adjusted EPS for the year was $10.07. Analysts expected revenue of $8B and adjusted full-year earnings per share of $9.90.
CEO Calvin McDonald said the strong results were driven by Lulu’s “innovative products, powerful guest experiences, and strategic market expansion."
The company forecast fiscal first-quarter net revenue in a range of $1.89B to $1.93B and earnings per share of $1.93 to $2.00. For fiscal 2023 full year it expects revenue to be in a range of $9.3B to $9.41B and earnings per share of $11.50 to $11.72.
Both forecasts are better than expected.