Estée Lauder profit beats expectations, sales rise 6.5% and stock jumps in futures trading

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Estée Lauder profit beats expectations, sales rise 6.5% and stock jumps in futures trading
Photo: Pat Wellenbach AP/TT

The company's stock - one of the year's biggest losers, with a price drop of around 20 percent so far this year - rose by almost 9 percent in futures trading on Wall Street after the report.

The average forecast among analysts was for a profit of 32 cents per share, and in the corresponding quarter a year earlier, the profit was 9 cents per share.

Sales also rose more than expected, up 6.5 percent to $3.6 billion.

In the report, Estée Lauder confirms its sales forecast for the new fiscal year, along with a higher profit margin forecast.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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