Estée Lauder's quarterly sales top estimates - Southern Business Review


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Tuesday, February 5, 2019

Estée Lauder's quarterly sales top estimates

Feb 5 (Reuters) - Estée Lauder Cos Inc’s quarterly sales beat Wall Street estimates on Tuesday, driven by higher demand for its luxury skincare brands and strength in its Asia-Pacific business.

Net income attributable to the company rose to $573 million, or $1.55 per share, in the second quarter ended Dec. 31, 2018, from $123 million, or 33 cents per share, a year earlier, when the company incurred a tax-related charge.

Net sales rose 7 percent to $4.01 billion, beating analysts’ average estimate of $3.92 billion, according to IBES data from Refinitiv. (Reporting by Jaslein Mahil in Bengaluru; Editing by Shinjini Ganguli)