May 1, 2019 / 10:55 AM / 5 months ago

Estee Lauder quarterly sales beat estimates

May 1 (Reuters) - Estee Lauder Cos Inc’s quarterly sales topped Wall Street estimates on Wednesday, powered by high demand for luxury skincare brands including La Mer and strength in its Asia Pacific business.

Net earnings attributable to the company rose to $555 million, or $1.51 per share, in the third quarter ended March 31, from $372 million, or 99 cents per share, a year earlier.

Net sales rose 11 percent to $3.74 billion, breezing past the average analyst estimate of $3.57 billion, according to IBES data from Refinitiv. (Reporting by Soundarya J and Jaslein Mahil in Bengaluru)

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