E.l.f. Beauty Inc.’s
ELF,
stock initially soared 10% in extended trading Wednesday after the company reported quarterly results that topped analyst revenue and earnings estimates. E.l.f. reported fiscal second-quarter net income of $33.3 million, or 58 cents a share, compared with net earnings of $11.7 million, or 21 cents a share, in the year-ago quarter. Adjusted net income was 82 cents a share. Net sales surged 76% to $215.5 million, compared with $122.3 million a year ago. Analysts surveyed by FactSet had expected on average net earnings of 53 cents a share on revenue of $197.1 million. The company offered full-year revenue guidance of $896 million to $906 million, easily topping FactSet analyst projections of $851.6 million. Shares of E.l.f. have jumped 71% this year. The broader S&P 500 index
SPX,
has increased 10%.