Herbalife Nutrition posts second quarter earnings drop of 31%; shares slip

Shares in Herbalife Nutrition (NYSE:HLF) slipped slightly Wednesday in after-hours trading after it released second-quarter results, showing an earnings drop of 31%. 

The NYSE-listed firm reported that net sales of US$1.3bln increased 12% compared to the second quarter of 2017.

Its net income came in at US$94.4mln, down 31.4%. 

The firm reported earnings per share of US$0.62, and adjusted earnings of US$0.80 per adjusted diluted share, compared to US$0.81 and US$0.76 year-over-year. 

The company reported volume points of 1.5bln, which increased 12% compared to the prior year period. 

In 2012, hedge fund manager Bill Ackman of Pershing Square famously made a short bet against Herbalife. Ackman referred to the nutritional supplements company as a pyramid scheme that he thought would eventually go to zero.

In extended trade, Herbalife shares inched down 1.1% to US$51.08.

Story by ProactiveInvestors