The Estee Lauder Companies Inc. (NYSE:EL) this morning reported its fiscal second quarter results, that topped analyst estimates and lifted its yearly earnings.
The company said that its net profit during the latest quarter soared $343.9 million, or $1.71 per share, up from a year ago profit of $256.2 million, or $1.28 a share.
On an adjusted basis, the company earned $1.77, topped analyst estimates of $1.44 a share.
Revenue for the quarter ended on December 31 grew 10% year-on-year to $2.49 billion, ahead of analyst projections of $2.42 billion.
Going forward, the company projects to earn $3.40 to $3.60 a share in its full year, way ahead of its previous estimates of $2.90 - $3.10 a share.
The company also sees to grow its revenue by 8-10%, from its previous outlook growth of 7-9%.
Shares of EL soared 13.26% to $91.28 after climbing to its life time high of $92.61 earlier in the session.
The Estee Lauder Companies Inc. is a manufacturer and marketer of skin care, makeup, fragrance and hair care products. Its products are sold in over 150 countries and territories under a number of brand names, including Estee Lauder, Aramis, Clinique, Origins, MzAzC, Bobbi Brown, La Mer and Aveda.
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