May 2 Estee Lauder Cos Inc reported a better-than-expected third-quarter adjusted profit as demand for its skincare products and prestige beauty brands rose globally.
Estee Lauder, known for its Bobbi Brown and Clinique brands, said net income attributable to the company rose to $213.2 million, or 54 cents per share, from $178.8 million, or 45 cents per share, a year earlier.
Excluding items, the company earned 64 cents per share in the quarter ended March 31.
Sales rose 11 percent to $2.55 billion.
Analysts on average had expected the company to earn 55 cents per share on revenue of $2.49 billion, according to Thomson Reuters I/B/E/S. (Reporting by Devika Krishna Kumar in Bangalore; Editing by Maju Samuel)