Nu Skin Soars on Higher Forecast, Triples Since March By Investing.com

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Nu Skin Soars on Higher Forecast, Triples Since March

Published Jul 02, 2020 15:49 Updated Jul 02, 2020 15:51

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Nu Skin Soars on Higher Forecast, Triples Since March

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By Christiana Sciaudone

Investing.com -- Nu Skin Enterprises Inc. soared 25% on Thursday after the company raised estimated revenue for the second quarter. Shares have almost tripled since March.

Sales should range between $603 million to $608 million, up from a previous forecast of $520 million to $550 million. Results will be reported on August 5. That’s still lower than the second quarter of 2019, when Nu Skin reported revenue of $625.3 million. Sales for the second quarter of 2018 were reported at $704.2 million.

The anti-aging supplement maker based in Utah cited strong customer growth in the Americas and Europe for the increase in revenue.

In the past, Nu Skin has been accused by investors and Chinese regulators of running a pyramid scheme.

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