The company now sees full year earning of between $4.30 per share to $4.60 per share, up from its previous forecast of between $4.10 per share to $4.50 per share.
Analysts on average are expecting $4.22 per share, Reuters noted.
For the first quarter, the company earned $1.29 per share, topping expectations of $1.01 per share, according to Thomson Reuters.
Revenue for the quarter came in at $1.11 billion, also topping expectations for $1.08 billion.
Herbalife has been accused by activist investor Bill Ackman of operating a pyramid scheme, resulting in investigations by the Federal Trade Commission, the Securities and Exchange Commission and the Department of Justice, Reuters reports.
Herbalife is a Cayman Islands-based global nutrition company that sells weight management, healthy meals and snacks, sports and fitness, energy and targeted nutritional products as well as personal care products.
Separately, TheStreet Ratings team rates HERBALIFE LTD as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate HERBALIFE LTD (HLF) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its expanding profit margins and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and a generally disappointing performance in the stock itself."