10:04 AM EDT, 06/07/2024 (MT Newswires) -- (Corrects Oddity's prior Q2 adjusted earnings per share outlook in the third paragraph as provided by the company in its corrected release, adds recent trading share price activity in last paragraph.)

Oddity Tech ( ODD ) said Friday its board has approved a stock buyback program of up to $150 million of the company's Class A ordinary shares.

The program will expire on June 30, 2027, the company said.

With the approval of the repurchase program, Oddity said it now expects Q2 adjusted earnings of roughly $0.69 per diluted share, up from its prior outlook of $0.61 to $0.64. Analysts polled by Capital IQ expect $0.63.

Net revenue for the quarter ending June 30 is now expected to be roughly $189 million, the top end of its previous forecast range of $185 million to $189 million. Analysts surveyed by Capital IQ expect $187.4 million.

Shares of the company were up 17% in recent Friday trading.

Price: 43.10, Change: +6.34, Percent Change: +17.25