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Estee Lauder reports better than expected Q2 results

Estee Lauder reports better than expected Q2 results

Estee Lauder released quarterly results above expectations in the second quarter of its 2020 fiscal year, which ended in late December.

By Luxus Plus

 

Estee Lauder continues to rise on the stock market on Wall Street, while the New York cosmetics group had reduced its profit forecasts for fiscal year 2020 due in particular to the recent epidemic of coronavirus in China. It is indeed a key market for the group.

 

In the second quarter of its fiscal year, the American group of cosmetics achieved a net profit of 557 million dollars, or 1,52 dollar per share, against 573 million, or 1,55 dollar per share a year earlier.

 

Excluding exceptional items, EPS (Earnings per share) came to 2.11 dollars, against a consensus of 1.29 dollars.

 

See Also

Turnover stood at 4.624 billion, against a consensus of 4.352 billion.

 

Read also: China’s ‘Gen Z’ shoppers fuelling luxury market momentum: Bain

 

 

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