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Estee Lauder Posts Strong Sales Growth In 3Q 2017

May 3, 2017: 12:00 AM EST
Estee Lauder Cos. Inc. reported net sales grew 7.5 percent to $2.86 billion the third quarter ending March 31, 2017, compared with the same quarter of the previous year. With average analyst estimate at $2.81 billion, the company's revenue performance for the quarter marks the first time it has performed better than forecast in four consecutive quarters. According to the company, net earnings attributable to Estee Lauder jumped to $298 million, or 80 cents per share, from $265 million, or 71 cents per share, in the previous year. Also, the company said sales numbers for the quarter were boosted by its acquisition of Too Faced and BECCA brands.
Richa Naidu, "Millennial Push Adds Shimmer to Estee Lauder Sales", Sharenet, May 03, 2017, © Thomson Reuters/SHARENET (PTY) Ltd
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