Estee Lauder Reports Q2 Loss, Beats Expectations
NEW YORK (AP) - Estee Lauder Companies Inc. (EL) reported a loss of $590 million in its fiscal second quarter on Tuesday. The New York-based company said it had a loss of $1.64 per share. Earnings, adjusted for impairments and restructuring, were 62 cents per share, exceeding Wall Street expectations. Analysts had forecast earnings of 32 cents per share.
Revenue for the quarter was $4 billion, also surpassing analysts' estimates of $3.98 billion.
For the current quarter ending in March, Estee Lauder expects per-share earnings between 20 and 30 cents.