(Photo by: Heidi Gutman/CNBC) Nutrition supplement company Herbalife reported disappointing earnings, and shares slid lower in after-market trading.
Herbalife (HLF) reported second-quarter adjusted profit of $1.55 per share, a 10% increase over the prior-year results. But analysts expected Herbalife to post second-quarter earnings of $1.57 per share, according to FactSet and MarketWatch.
Shares of Herbalife, down 10%, cascaded lower as the headline rippled through after-market trading. The stock rose 2% Monday in regular trading, anticipating better news.
In its press release on results, Herbalife said second-quarter worldwide volume increased 5% compared to the prior year period. The company raised its fiscal 2014 adjusted earnings-per-share guidance to a range of $6.17 to $6.32 per share.
Herbalife had reported better-than-expected earnings for 21 quarters in a row. High-profile investor Carl Icahn has defended the business in the face of short-seller Bill Ackman of Pershing Square, who thinks Herbalife is a pyramid scheme.
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