Estee Lauder quarterly sales top Wall Street expectations

[NEW YORK] Estee Lauder beat analysts' estimates for first-quarter sales on Monday, benefiting from strong Chinese demand for its premium skincare products.

Net earnings attributable to the company fell to US$523 million, or US$1.42 per share, in the first quarter ended Sept 30, compared with US$595 million, or US$1.61 per share, a year earlier.

Net sales fell to US$3.56 billion from about US$3.90 billion a year earlier, but were above expectations of US$3.46 billion, according to Refinitiv data.

REUTERS