Herbalife's (NYSE: HLF) stock soared 7.68% on Thursday, November 1st, after the company reported impressive third-quarter earnings results, bucking the trend of its peers in the consumer staples industry.
The nutrition and weight management company reported revenues of $1.24 billion, down 3.2% year-over-year but still beating analysts' expectations. While the revenue figure slightly missed estimates, Herbalife delivered a strong performance by exceeding analysts' projections for earnings and EBITDA (earnings before interest, taxes, depreciation, and amortization).
The positive earnings surprise fueled a rally in Herbalife's stock, which is currently trading at $7.55, up 10.4% since the company released its Q3 results. This performance stands in contrast to the broader consumer staples industry, which saw mixed results in the third quarter, with revenues in line with consensus estimates but next quarter's revenue guidance coming in 12.4% below expectations.
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