UPDATE: Ulta Reports Q1 EPS of $0.65 vs. $0.62, Revenue of $582.7 Million

Ulta Salon, Cosmetics, and Fragrance ULTA reported first quarter results Tuesday after the close that beat expectations. Shares rose in after-hours trading.

Ulta reported first quarter earnings per share of $0.65 vs. the expected $0.62 on revenue of $582.7 million. Revenue increased 22.9 percent year-over-year to $582.7 million.

Ulta also issued guidance for the second quarter that came short of estimates. Ulta expects EPS of $0.64-0.67 in the second quarter vs. $0.68 expected. Sales are expected to be $579.0 million-$589.0 million vs. $590.72 expected.

Ulta shares rose 6.19 percent in after-hours trading to $89.21 per share.