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)