Herbalife Nutrition (NYSE:HLF), the maker of nutritional and weight-management supplements, beat revenue expectations and raised its guidance for 2018 on the back of buoyant sales.
Its reported net income came in at US$82.01mln, or US$1.08, against $85.2mln, or $0.98, in the same period last year. On an adjusted basis, its earnings were $1.40 per share. Its revenue, meanwhile, jumped to US$1.18bn from US$1.1bn in the year-ago quarter.
Wall Street had expected Herbalife to earn US$1.11 on revenue of US$1.12bn.
Hedge fund manager Bill Ackman of Pershing Square famously made a short bet against Herbalife back in 2012. Ackman referred to the nutritional supplements company as a pyramid scheme that he thought would eventually go to zero.
In extended trade, Herbalife shares inched up 1.6% to US$107.98.