Shares of Lululemon jumped after the market closed on Thursday after the company reported stronger than anticipated quarterly results.

The athleisure retailer said its net revenue rose by 24% to $2 billion between the first quarter of 2022 and the first quarter of 2023, and that it saw a "meaningful acceleration in our China sales trend."

"Our results reflect the strength of our guest relationships, our innovative products and how our brand resonates across the globe," CEO Calvin McDonald said in a statement.

Shares of Lululemon rose 13% in after-hours trading.

This is a developing story, check back here for updates.