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Estée Lauder quarterly sales beat estimates

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Estée Lauder quarterly sales beat estimates
Lipstick is displayed in the M.A.C flagship store in Paris, February 28, 2013.REUTERS/Philippe Wojazer   -   Copyright  Philippe Wojazer(Reuters)
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(Reuters) – Estée Lauder Cos Inc <EL.N> beat Wall Street estimates for fourth-quarter sales on Monday, helped by strong demand for skincare brands such as La Mer and strength in its Asia-Pacific business.

Net earnings attributable to the company fell to $157 million (£129 million), or 43 cents per share, in the quarter ended June 30, from $186 million, or 49 cents per share, a year earlier.

Net sales rose 9% to $3.59 billion, beating the average analyst estimate of $3.53 billion, according to IBES data from Refinitiv.

(Reporting by Aditi Sebastian in Bengaluru; Editing by Arun Koyyur)

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