Herbalife delivered quarterly earnings and revenue that topped analysts' expectations on Wednesday.
The embattled nutrition and supplement company—a frequent target of activist investor Bill Ackman—posted second-quarter earnings of $1.24 per share on $1.16 billion in revenue. Wall Street had expected Herbalife to report profit per share of $1.11 on $1.14 billion in revenue, according to consensus estimates from Thomson Reuters.
Shares of Herbalife surged as high as 8 percent in extended-hours trading.
The company raised its guidance for the full year to a range of $4.50 to $4.70, from $4.30 to $4.60.
"The second quarter continued the improving trends we saw in the previous quarter in terms of sales volumes and key sales leader metrics, and we believe we will see these positive trends continue through the second half of the year," said CEO Michael Johnson in a release.
However, guidance for the third quarter includes a negative impact from the stronger dollar of about 40 cents per diluted share, the company said. Full-year guidance includes a currency headwind of approximately $1.40 per diluted share. Most of that weakness comes from Venezuela, Herbalife said.
The company has been under pressure recently regarding the legality of its business practices and was contacted by federal law enforcement agencies in April. In addition, the long-standing feud with Ackman continues, as the high-profile investor heavily shorts the stock.
"I think what you'll see [from the earnings] is a continued deterioration in the fundamental performance of the business. The government may do nothing, but I think the business goes away anyway," Ackman told CNBC in May.
Ackman has described Herbalife as a pyramid scheme that should be shut down.
The company has stood by its defense against the claims.
"Bill Ackman has been engaged in a nearly three-year effort to drive down Herbalife's stock in order to enrich himself and his investors. There is reportedly an ongoing federal criminal investigation into his campaign against Herbalife for stock manipulation and law enforcement and regulators have recently sought information from Herbalife and others relating to that investigation as well as trading in Herbalife shares and allegations about our business practices," Alan Hoffman, a Herbalife spokesman, told CNBC in April.
"We are cooperating with these requests for information, remain confident in the integrity of our business practices and are hopeful Ackman's long-term campaign of distortion will be found to be illegal."
Shares of Herbalife have dipped around 1 percent in the last 12 months.
—CNBC's Jacob Pramuk contributed to this report.