NEW YORK (AP) — NEW YORK (AP) — Estee Lauder Companies Inc. (EL) on Friday reported fiscal third-quarter net income of $89 million.
On a per-share basis, the New York-based company said it had net income of 24 cents. Earnings, adjusted for restructuring costs and non-recurring costs, came to 91 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The beauty products company posted revenue of $3.71 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $3.7 billion.
Estee Lauder expects full-year earnings in the range of $2.35 to $2.45 per share.
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