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Estee Lauder's quarterly profit beats estimates
[BENGALURU] Cosmetics maker Estee Lauder Cos Inc posted a higher-than-expected quarterly profit, driven partly by strong demand for its recently acquired brands Too Faced and BECCA.
Net income attributable to the company rose to US$229 million, or 61 US cents per share, in the fourth quarter ended June 30, from US$94 million, or 25 US cents per share, a year earlier.
Excluding items, the company earned 51 US cents per share, beating analysts' average estimate of 43 US cents per share, according to Thomson Reuters I/B/E/S.
The New York City-based company's net sales rose 9 per cent to US$2.89 billion.