Lululemon Athletica (NASDAQ: LULU) stock gained 1.5% in Thursday's after-hours trading session, following the activewear specialist's release of a strong report for the second quarter of fiscal 2023 (which ended July 30).

The stock's rise is attributable to the quarter's results beating Wall Street's consensus estimates for both revenue and earnings, third-quarter guidance coming in higher than analysts had expected for both the top and bottom lines, and management raising its full-year guidance for revenue and earnings.

Lululemon stock's post-earnings-release gain was modest compared to what it's been in some recent quarters. That's likely largely due to the revenue and earnings beats not being as large as they sometimes are.

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Source Fool.com