04:22 AM EDT, 06/06/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Lululemon Athletica's ( LULU ) shares were up more than 9% in premarket Thursday after the company reported higher earnings and sales for fiscal Q1, and raised its full-year earnings forecast range.

The company reported fiscal Q1 net income late Wednesday of $2.54 per diluted share, up from $2.28 a year earlier.

Analysts polled by Capital IQ expected $2.42.

Net revenue for the quarter ended April 28 rose to $2.21 billion from $2 billion a year earlier.

Analysts surveyed by Capital IQ expected $2.2 billion.

The company said it expects Q2 diluted EPS between $2.92 and $2.97 and net revenue between $2.4 billion and $2.42 billion.

Analysts polled by Capital IQ expect $3.06 and $2.45 billion.

The company said it now expects 2024 diluted EPS between $14.27 and $14.47 and it still expects net revenue between $10.7 billion and $10.8 billion. The previous diluted EPS guidance was between $14.00 and $14.20.

Analysts surveyed by Capital IQ expect $14.18 and $10.76 billion.

Price: 338.23, Change: +29.96, Percent Change: +9.72