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Estee Lauder's quarterly profit beats estimates
August 18, 2017 / 10:58 AM / 4 months ago

Estee Lauder's quarterly profit beats estimates

Aug 18 (Reuters) - 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 $229 million, or 61 cents per share, in the fourth quarter ended June 30, from $94 million, or 25 cents per share, a year earlier.

Excluding items, the company earned 51 cents per share, beating analysts’ average estimate of 43 cents per share, according to Thomson Reuters I/B/E/S.

The New York City-based company’s net sales rose 9 percent to $2.89 billion. (Reporting by Vibhuti Sharma and Karina Dsouza in Bengaluru; Editing by Martina D‘Couto)

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