Shares of Herbalife Ltd. jumped in after-hours trading Tuesday as the seller of supplements and weight-loss products boosted its outlook for the year.
The company now expects full-year earnings in the range of US$4.30 to US$4.60 per share, up from its previous forecast between US$4.10 and US$4.50 per share. Analysts expected US$4.22 per share, according to FactSet.
For the current quarter ending in June, Herbalife expects its per-share earnings to range from US$1.05 to US$1.15. Analysts surveyed by Zacks had forecast adjusted earnings per share of US$1.06.
The George Town, Cayman Islands-based company reported first-quarter profit of US$78.2 million, or 92 cents per share. Earnings, adjusted for non-recurring costs, came to US$1.29 per share. A year ago, Herbalife earned US$74.6 million, or 74 cents per share.
It posted revenue of US$1.11 billion in the period, a 12 percent decline. Excluding the impact of currency sales rose 4 percent. The company posted lower revenue in all regions except China, where revenue rose 21 percent to US$164.2 million.