NEW YORK (TheStreet) -- Ulta Salon (ULTA) - Get Ulta Beauty Inc Report shares are up by 4.84% to $168 in after-hours trading on Thursday, following the release of the beauty retailer's second quarter earnings results today.

The Bolingbrook, IL-based company reported second quarter net income of $74.2 million, or $1.15 per share on revenue that increased 19.4% to $877 million for the most recent quarter.

Analysts on average were expecting the company to report earnings of $1.11 per share on revenue of $869.8 million.

For the current quarter the company expects revenue to be between $869 million and $883 million versus analysts' consensus estimate of $869.3 million.

"The Ulta Beauty team achieved outstanding results in the second quarter, with top line momentum delivering better than expected earnings growth," CEO Mary Dillon said in a statement. 

"Strong traffic growth drove healthy comparable sales increases across stores, salon and e-commerce, while average ticket growth also contributed," Dillon continued. 

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Separately, TheStreet Ratings team rates ULTA SALON COSMETCS & FRAG as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate ULTA SALON COSMETCS & FRAG (ULTA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel its strengths outweigh the fact that the company shows weak operating cash flow."

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