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Shares of
Herbalife Ltd. jumped more than 15 percent in after-hours trading after the company reported stronger-than-expected earnings for the first quarter and lifted its outlook for the full year.
The company posted quarterly net income of $78.2 million, or $0.92 per share, compared to $74.6 million, or $0.74 per share, in the year-ago quarter. Its adjusted earnings came in at $1.29 per share.
Its sales slipped 12.4 percent to $1.1 billion. However, analysts were expecting earnings of 1.01 per share on revenue of $1.09 billion.
The average estimate among 37 Estimize users was for earnings of $1.04 per share and revenue of $1.06 billion.
For the quarter, Herbalife generated $161.1 million net operating cash flow.
Michael Johnson, chairman and CEO said, "As reflected in our record sales leader retention results, we remain confident that we are building a stable foundation for volume and sales growth, driving long-term shareholder value creation, and providing an even better experience for our millions of Members and our customers throughout the world."
Herbalife projects Q2 adjusted earnings of $1.05 to $1.15 per share, versus analysts' estimates of $1.06 per share.
The company now expects FY15 adjusted earnings of $4.30 to $4.60 per share, versus analysts' estimates of $4.22 per share.
Herbalife shares jumped 15.39 percent to $46.26 in the after-hours trading session.
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