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Estee Lauder Beats Street 2Q Forecasts

Estee Lauder Companies Inc. on Friday reported fiscal second-quarter earnings of $446.2 million. The results beat Wall Street expectations.
By
  • Associated Press

NEW YORK, United States — Estee Lauder Companies Inc. on Friday reported fiscal second-quarter earnings of $446.2 million.

On a per-share basis, the New York-based company said it had profit of $1.19. Earnings, adjusted for non-recurring costs, came to $1.22 per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.

The beauty products company posted revenue of $3.12 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $3.07 billion.

Estee Lauder shares have fallen 1 percent since the beginning of the year, while the Standard & Poor's 500 index has fallen slightly more than 6 percent. The stock has climbed 20 percent in the last 12 months.

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