Estee Lauder's second-quarter sales top estimates
Feb 2 (Reuters) - Cosmetics maker Estee Lauder Cos Inc reported quarterly revenue that beat analysts’ estimates on Friday, helped by strong demand for Too Faced and Becca products and customizable gift options during the holiday season.
Sales rose 16.7 percent to $3.74 billion, beating analysts’ estimate of $3.68 billion, according to Thomson Reuters I/B/E/S.
However, net income fell to $123 million, or 33 cents per share, in the second quarter ended Dec. 31, from $428 million, or $1.15 per share, a year earlier, as the company incurred a one-time tax charge of $394 million following the recently passed U.S. tax bill. (Reporting by Karina Dsouza and Nivedita Balu in Bengaluru; Editing by Martina D‘Couto)