Shares of e.l.f. Beauty Jump 15% After Company Raises Full-Year Guidance on Surging Sales

e.l.f. Beauty, a drugstore makeup brand, experienced a 76% year-over-year increase in sales for its fiscal first quarter of 2024. The surge in sales led the company to raise its full-year outlook, with expectations for net sales to be between $792 million and $802 million and adjusted full-year profits to be between $125 million and $127 million. Following the positive earnings report, shares of e.l.f. Beauty surged about 15% in extended trading.