Herbalife second-quarter profit drops 17 percent, misses estimate

MarketsAssociated Press

Herbalife Ltd. (HLF) on Monday reported profit that decreased by 17 percent in its second quarter, and missed analysts' expectations.

The George Town, Cayman Islands-based company said earnings fell to $119.5 million, or $1.31 per share, from $143.2 million, or $1.34 per share, in the same quarter a year earlier.

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Earnings, adjusted for non-recurring costs, were $1.55 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.

The seller of supplements and weight-loss products said revenue rose 7.1 percent to $1.31 billion from $1.22 billion in the same quarter a year earlier, and missed Wall Street forecasts. Analysts expected $1.36 billion, according to Zacks.

Herbalife shares have dropped $11.22, or 14 percent, to $67.48 since the beginning of the year.

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Keywords:Herbalife,Earnings Report