E.L.F. Beauty Inc. shares rose more than 7% in the extended session Wednesday after the company raised its guidance for fiscal 2020 and beat earnings expectations. The company reported fiscal second-quarter net income of $6.5 million, or 13 cents a share, compared with $3.9 million, or 8 cents a share, in the year-ago period. Adjusted for things such as restructuring income and stock-based compensation, earnings were 15 cents a share. Revenue rose to $67.6 million from $63.9 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of 9 cents a share on revenue of $61.1 million. The cosmetics company raised its fiscal 2020 outlook to adjusted earnings of 44 cents to 48 cents a share on revenue of $265 million to $272 million. E.L.F. Beauty stock has more than doubled this year, with the S&P 500 index rising 23%.
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