Herbalife Beats Wall Street Estimates (HLF)

Network marketing company Herbalife Ltd. HLF late on Monday released financial results that beat Wall Street expectations. Herbalife Ltd reported that its 3rd quarter net income of rose to $75.7 million, or $1.22 per share, up from $57.9 million, or 91 cents per share, a year earlier. Excluding special items, the company earned $1.17 per share. Revenue climbed 14.7% to $688.4 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of $1.03 per share, on revenue of $687.09 million. Chairman and chief executive Officer Michael O. Johnson said, “Our distributors are driving momentum around the world by attracting and retaining long-term customers for our nutrition products, which builds successful and sustainable businesses. We are pleased by the broad and ongoing strength of our results this quarter, with all six of our regions experiencing volume growth and year-over-year improvement in active sales leaders.” Herbalife Ltd. (HLF) ended the Monday trading session at $64.95 per share and was up 3% at $66.95 during after hours trading. Analysts covering the company's stock have a consensus price target of $70.43 per share. Read more from Benzinga's Company news.