* Q2 EPS $0.88 vs est EPS $0.75
* Q2 rev $879.7 mlv vs est $829.4 mln
* Sees Q3 EPS $0.71-$0.76 vs est $0.69
* Sees FY11 EPS $2.97-$3.07 vs est $2.91
(Adds details, background)
Aug 1 Herbalife Ltd forecast the current
quarter and full year above market expectations as it benefits
from increasing obesity fears, sending the dietary supplements
distributor's shares up 10 percent after the bell.
Herbalife and other weight management companies such as
Weight Watchers have been benefiting from global
concerns of obesity.
Last week, smaller player Nutrisystem posted a
market-beating second-quarter profit helped by cost cuts.
Medifast and Weight Watchers will report later this
Herbalife, which sells weight control products like energy
drinks and nutritional supplements in over 70 countries, now
expects to earn 71-76 cents a share for July-September. Analysts
on average were expecting it to earn 69 cents a share, according
to Thomson Reuters I/B/E/S.
For 2011, the company expects to earn $2.97-$3.07 per share,
while analysts were expecting it to earn $2.91 per share.
Herbalife's quarterly results also beat Wall Street
expectations on higher sales across all markets, particularly in
emerging markets such as Asia Pacific and Mexico.
The company's revenue from Asia pacific rose about 38
percent to $237.1 million, while Mexico revenues rose about 41
percent to $113.9 million.
Earnings for the company rose to 88 cents a share for the
quarter, from 65 cents a share, a year ago. Analysts on average
had expected the company to earn 75 cents per share.
Revenue rose 28 percent to $879.7 million, while analysts
expected revenue of $829.4 million.
Shares of the Los Angeles-based company were trading up 9
percent at $60.55 after the bell. They had closed at $55.54 on
Monday on the New York Stock Exchange.
(Reporting by Arpita Mukherjee in Bangalore; Editing by Don