Herbalife second-quarter profit drops 17 percent, misses estimate

GEORGE TOWN, Cayman Islands – 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.

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