Herbalife Nutrition beats revenue expectations and raises 2018 guidance due to buoyant sales

Revenue jumped to US$1.18bn, which crushed revenue estimates of US$1.12bn

Nutritional shake
Hedge funder Bill Ackman famously made a short bet against the company in 2012

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.

Quick facts: Herbalife

Price: 45.8 USD

Market: NYSE
Market Cap: $6.75 billion

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