Estee Lauder Beats First-Quarter Estimates - TheStreet

Estee Lauder

posted first-quarter earnings that exceeded analysts' estimates by a penny, and said it expects second-quarter and full-year earnings to meet current forecasts.

The cosmetics giant earned $94.6 million, or 37 cents a share, up from $82.6 million, or 32 cents a share, in the year-ago period. A survey of 10 analysts produced a consensus earnings estimate of 36 cents a share, according to

First Call/Thomson Financial

.

Sales rose 8% to $1.18 billion from $1.09 billion last year.

The company said it expects sales to grow between 9% and 10% and earnings of 49 cents to 51 cents a share in the second quarter, in line with analysts' estimates of 50 cents a share. Analysts expect the company to earn $1.35 a share for the year.