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Ulta Beauty Lifts FY Outlook; Shares Up 5%

While reporting third-quarter results on Thursday, Ulta Beauty, Inc. (ULTA) lifted its full-year financial outlook. Following the news, shares gained over 5% in the after-hours trading.

The beauty retailer now expects full year earnings of $16.70 to $17.10 per share and revenues of $8.5 billion to $8.6 billion.

Previously, the company had expected earnings per share of $14.50 to $14.70 and revenues of $8.1 billion to $8.3 billion.

Analysts polled by Thomson Reuters expect the company to report earnings of $15.19 per share on revenues of $8.35 billion in fiscal 2021.

The company said the revision of outlook was based on the results for the first nine months and revised expectations for consumer demand.

ULTA closed Thursday's trading at $383.64, up $13.62 or 3.68%, on the Nasdaq. The stock further gained $19.25 or 5.02% in the after-hours period.

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