Elf Beauty: Exponential Growth and Forecast Upgrade After Strong Q3!
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Elf Beauty significantly exceeded market expectations on Wednesday with a revenue increase of 38% to $489.5 million, while also raising its full-year forecast. The company initially saw its shares rise by up to 15% in after-hours trading before giving back most of those gains. Key to the business performance were unexpectedly high revenues from the integration of the Rhode brand, along with an adjusted earnings per share of $1.24, which was far above the consensus estimate of $0.72. CEO Amin points to 28 quarters of growth and massive market...
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