Estee Lauder Cos. Inc., the beauty-products maker, said Friday that its profit for the first-quarter would be much higher than forecast earlier owing to better-than-expected sales.
The announcement of expectation of better results pushed shares in Estee Lauder up by more than 5 per cent to $41.11-a-share at 4:02 p.m. on the NYSE. It was the highest jump by the Estee Lauder’s shares since May 4.
The New York-based Estee Lauder added that it could lift its per share profit forecast, excluding items, for the year ended June 30, when it would post its first quarter results on October 30.
Earlier in August, Estee Lauder had projected first-quarter net profit of 23-30 cents a share.
Analysts, on average, expected the company to earn 26 cents a share.
Estee Lauder said that it remained cautious about the economic climate worldwide throughout the year.
Latest News
|
|
|
|
|
|
|
|
|
|
|
|
Popular content
Today's:
All time:
Last viewed:
- Police-Brutality Protest in Montreal Turns Violent
- Microsoft initiates Windows 7 upgrade promotion; Amazon shoppers show interest
- Study says Facebook users have lower overall grades in college vis-à-vis non-users!
- Sex assault charges on a HIV-Positive man, Toronto
- USFDA gives provisional approval to Strides Arcolab’s HIV drug
- Heavy Drinking in First Trimester Increases Premature Delivery Risk
- YouTube-Warner likely to sign a licensing agreement soon
- Telus Reports Drop in Third Quarter Profit, Lowers Full Year Forecast
- Hepatitis B vaccine propels Dynavax
- U.S. War Veterans Mental Health Toll Rising
US Business News
- Sony Ericsson shifts HQ from NC to Atlanta; closes a few other sites worldwide
- Microsoft: No-cost Azure service launches in January; to be charged for in February
- Rolls Royce and Air China Close $1.5 Billion Deal for New Engines
- Missouri Plant Work Dispute Resolved by Ford and UAW
- MUFG Looking to Raise $11 Billion Through Public Offering of Common Shares
