NEW YORK (AP) — NEW YORK (AP) — Estee Lauder Companies Inc. (EL) on Thursday reported fiscal first-quarter profit of $47 million.
The New York-based company said it had profit of 13 cents per share. Earnings, adjusted for restructuring costs, were 32 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The beauty products company posted revenue of $3.48 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $3.38 billion.
Estee Lauder expects full-year earnings in the range of $1.90 to $2.10 per share.
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