E.L.F. Beauty Shares Dip After Q1 Results
Portfolio Pulse from Erica Kollmann
E.l.f. Beauty, Inc. (NYSE:ELF) shares fell after reporting strong Q1 results, with earnings and sales surpassing analyst estimates. Despite a 50% year-over-year sales increase and improved gross margins, shares dipped 5.09% in after-hours trading. The company raised its fiscal year outlook, expecting a 25%-27% increase in net sales.
August 08, 2024 | 8:42 pm
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E.l.f. Beauty reported strong Q1 results, beating earnings and sales estimates, and raised its fiscal year outlook. Despite this, shares fell 5.09% in after-hours trading.
Despite strong financial performance and raised outlook, the market reacted negatively, possibly due to high expectations or profit-taking. The 5.09% drop in after-hours trading indicates a short-term negative impact on the stock price.
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