UPDATE 1- Nu Skin Q2 results beat Street; raises FY10 outlook

* Q2 EPS $0.50 vs est. $0.46

* Q2 rev up 20 pct at $388.4 mln

* Raises FY10 EPS to $1.90 to $1.96

July 28 (Reuters) - Personal-care products maker Nu Skin Enterprises Inc (NUS.N) posted a quarterly profit that beat Wall Street estimates, helped by higher margin and strong performance in all of its markets, and raised its earnings outlook for 2010.

For 2010, the company now expects to earn $1.90 to $1.96 a share, compared with earlier estimate of $1.80 to $1.88 a share.

Analysts on average were expecting earnings of $1.89 a share, according to Thomson Reuters I/B/E/S.

For the second quarter ended June 30, net income was $32.4 million, or 50 cents a share, compared with net income of $22.1 million, or 35 cents a share, a year ago.

Revenue rose 20 percent to $388.4 million.

Analysts on average expected earnings of 46 cents per share on revenue of $369.7 million.

Gross margin rose 130 basis points to 82.5 percent, mainly on account of higher-margin ageLOC products.

"We are particularly pleased with the strength of the business in emerging markets, including China and Southeast Asia," Chief Executive Truman Hunt said in a statement.

Shares of the Provo, Utah-based company closed at $28.82 Wednesday on the New York Stock Exchange. (Reporting by Shobhana Chadha in Bangalore; Editing by Maju Samuel)