Shares of Herbalife Ltd. HLF soared higher by more than 25 percent on Friday after the company reported its fourth-quarter results and issued a key business update.
Herbalife said it earned $1.19 per share in the fourth quarter on revenue of $1.1 billion. Wall Street analysts were expecting the company to earn $0.94 per share on revenue of $1.06 billion.
Herbalife also issued an update on a previously disclosed investigation initiated by the U.S. Federal Trade Commission in a regulatory filing document. The company said it is currently in discussions with the agency regarding a "potential resolution of the matter" and possible outcomes include "the filing by the FTC of a contested civil complaint, further discussions leading to a settlement which could include a monetary payment and other relief or the closure of these matters without action."
Herbalife added that it is "difficult to predict the timing" and the "likely outcome" of its discussions with the FTC. The company also noted that no assurances can be given that the outcome will not have a material adverse impact on its financial conditions and business operations.
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