E.l.f. Beauty stock soars 15% on big earnings beat, raised guidance

Shares of E.l.f. Beauty surged roughly 15% Wednesday after the company reported a huge earnings beat and raised its guidance for the fiscal year.

Here's what the company reported for the third fiscal quarter, compared with analyst estimates from LSEG:

E.l.f. said net sales increased 38% to $489.5 million, from $355 million in the same period a year ago, driven by growth across the globe and across its retailers and e-commerce. It reported adjusted net income of $74.5 million.

The company recently acquired celebrity Hailey Bieber's skincare company, rhode, in a roughly $1 billion deal, and it contributed $128 million to the company's net third-quarter sales growth. E.l.f. told CNBC it's projecting rhode to contribute up to $265 million in net sales this year, up $65 million from its previous guidance.

E.l.f. also raised its full-year guidance, increasing its revenue outlook by a range of $42 million to $50 million.

"Our Q3 results, which included 130 basis points of market share gains for our namesake e.l.f. Cosmetics brand and a record-breaking launch of rhode in Sephora in the U.K., are a continuation of the consistent, category-leading growth we've delivered over the past 28 quarters," CEO Tarang Amin said in a statement. "Our value proposition, powerhouse innovation and disruptive marketing engine continue to fuel our brands."

– CNBC's Jodi Gralnick contributed to this report.