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Estee Lauder Posts Flawless Quarter But Forex Concerns Linger

8/15/14 11:13 AM EDT
Estee Lauder more than doubled its quarterly profits to end its fiscal year with record-high earnings. The makeup and skincare company, home to Clinique and its namesake brand, reported net income of 66 cents a share, 10 cents over consensus and far higher than 24 cents a share earned a year earlier. On the topline, sales jumped 13% year over year to $2.73 billion. The quarter capped off a strong year for the company driven by growth across all its lines (skincare and makeup up 14% and 12%, respectively) as well as high demand in the Americas, its largest market. However, foreign exchange headwinds continue to hurt sales in its current quarter.
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