Estee Lauder: shares up slightly after 'stellar results'

(CercleFinance.com) - Cosmetics maker Estee Lauder said it generated "stellar results" in Q2, which helped the shares to rise slightly in a weaker US stockmarket this Friday.


Estee Lauder's net income came in at 123 million dollars, even after including provisional one-off charges of 394 million dollars related to the US tax reform.

The company achieved net sales of 3.74 billion dollars over the three months to 31 December 2017, representing growth of 17%, driven by the recent acquisitions of Too Faced and Becca.

The company raised its FY sales guidance, now forecasting net sales to increase by between 12.5% and 13.5%.

Estee Lauder shares were up 0.4% at 134.9 dollars on the New York Stock Exchange, with the S&P 500 index down 1.1%.


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