E.l.f. Beauty Inc. has raised its annual revenue guidance following a strong performance in the second quarter of 2024. The company now expects net sales growth of approximately 28% to 30%, an increase from its previous forecast of 25% to 27%. This adjustment reflects resilient demand in the cosmetics sector. In Q2, E.l.f. reported revenue of $301.1 million, a 40% increase year-over-year, surpassing analyst expectations of $289.3 million. The adjusted earnings per share (EPS) for the quarter was $0.77, significantly higher than the estimated EPS of $0.42. However, net income fell to $19 million, down 43% year-over-year, while gross margin improved to 71%, up 40 basis points from the previous year. Following these announcements, E.l.f. shares surged 10% in extended trading.