Lululemon Athletica Inc. fizzled some in the first quarter — with the company blaming some bad online buzz and disappointing product launches as it lowered its outlook for the year. 

Net income fell 38 percent to $195 million from $314.6 million a year earlier. Still, earnings per share came in slightly better than expected at $1.69, which is 2 cents ahead of the $1.67 analysts forecast, according to Yahoo Finance. 

Revenues for the quarter ended May 3 rose 4 percent to $2.5 billion, a 2 percent increase in constant currencies. Comparable sales slipped 2 percent in constant dollars. 

Investors decided to take a big step back and traded shares of the company down 10.9 percent to $111.30 in after-hours trading on Thursday.

Sales in the Americas division fell 4 percent in constant currencies as the overseas operation saw sales increasing 16 percent in constant dollars. 

Meghan Frank, interim co-chief executive officer and chief financial officer, told analysts on a conference call that the company started to face headwinds and moderating sales trends as it closed the first quarter and entered the second.  

“First, we experienced spikes of negative commentary in the media and on social channels with regard to our brand, which had an impact on traffic and overall top-line performance,” Frank said. 

“And second, not all of our product launches have met our expectations,” she said. “While we’ve had several successful launches so far this year, we’ve seen others as we start Q2 not generate the anticipated guest response. Taken together, these factors impacted performance and are reflected in our updated guidance.”

The media hubbub came on two fronts. 

Part of it was the controversy stirred up by the brand’s now-settled proxy fight with founder Chip Willson, who ultimately struck a deal to bring in three new directors. 

And part of it was the investigation by Texas Attorney General Ken Paxton into the potential presence of PFAS, or “forever chemicals,” in Lululemon looks. The investigation sparked an intense debate on social media in China. 

“These stories have died down and subsided,” Frank said. “But we have not yet seen a return to our pre-disruption trend. So we’re closely monitoring it and feel it’s prudent to update our range in terms of what we’re seeing today in the trend of the business.”

Nike veteran Heidi O’Neill will have plenty of work to do when she logs in as the company’s new CEO in September. 

But she’ll be jumping into an operation that is already on the move. 

Frank said Lululemon is working to “raise the bar on product design” and bring “a new creative energy into our key franchises.”

While the run business resonated with shoppers, the company’s campaign for its core yoga product didn’t live up to expectations. 

“We featured away-from-body styles across our line,” Frank said. “These styles were met with good guest response, but so far, the campaign hasn’t had the expected halo effect on other areas of our assortment. We’re pleased with our overall product pipeline and in Q2, you will see more warm weather styles across some of our key activities, including run, tennis, golf and our lifestyle offerings.”

Lululemon now expects revenues to range from $11 billion to $11.15 billion, down from the $11.35 billion to $11.5 billion previously projected. 

The earnings forecast was cut to a range of $10.95 to $11.15 a share, down from the $12.10 to $12.30 projected in March.