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Estee Lauder's quarterly sales top estimates

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By Reuters

(Reuters) – Estee Lauder Cos Inc <EL.N> beat Wall Street estimates for first-quarter sales on Wednesday, buoyed by higher demand for luxury skincare products such as La Mer and M.A.C makeup.

The Jo Malone London fragrance maker said net income attributable to the company rose to $500 million (392 million pounds), or $1.34 per share, in the quarter ended Sept. 30, from $427 million, or $1.14 per share, a year earlier.

Net sales rose nearly 8 percent to $3.52 billion, beating the average analyst estimate of $3.47 billion, according to Refinitiv data.

(Reporting by Jaslein Mahil in Bengaluru; Editing by Arun Koyyur)