86°

Topics

Mutual Funds
Herbalife profits are below expectations; shares fall after-hours
Herbalife profits are below expectations; shares fall after-hours

Los Angeles nutritional products company Herbalife Ltd. reported record sales of $1.3 billion for the second quarter but profits declined and the stock was down 10% in after-hours trading. Herbalife said it reported $119.5 million of profit for the quarter, compared with $143.2 million in the second quarter of 2013. The company reported earnings of $1.31 per diluted share, compared with $1.34 last year. Excluding one-time costs, the company said it earned $1.55 per share, compared with adjusted income of $1.41 last year. Analysts had expected adjusted earnings of $1.57, according to a survey by FactSet. Still, Herbalife chief Michael O. Johnson was upbeat in a news release. ...

Loading