ELF Beauty Stock Dips 25% Amid Social Media Struggles and TikTok Uncertainty

Shares fall sharply as mixed earnings and external factors impact performance ELF Beauty’s stock saw a dramatic decline of up to 28% on Friday after the company reported mixed earnings results for the fiscal third quarter. The beauty brand’s disappointing financial performance was attributed to weaker-than-expected social media engagement, a crucial factor for marketing and growth in the beauty industry. External disruptions such as the LA wildfires and uncertainty surrounding TikTok’s future were pointed out as major contributors to the drop in social media chatter and engagement, further impacting ELF Beauty’s guidance and market performance. Mixed Earnings Results and Disappointing Outlook In its quarterly report, ELF Beauty revealed that its guidance for the full fiscal year fell short of analyst estimates. The company projected revenue between $1.30 billion and $1.31 billion, missing the expected $1.34 billion. Additionally, the forecasted earnings per share (EPS) were between $...