Estee Lauder Up 13% On Results, Improved Outlook

SAN FRANCISCO -- Estee Lauder Companies' shares jumped as much as 13% Thursday after the cosmetics and perfume giant turned in stellar fiscal second-quarter results and raised its earnings outlook. Net income for the quarter rose 34% to $343.9 million, or $1.71 a share, from $256.2 million, or $1.28 a share, a year ago. Revenue rose 10% to $2.49 billion. Analysts polled by FactSet had forecast earnings of $1.44 a share on $2.42 billion in revenue. The company said the gains reflected strong holiday sales and a weaker U.S. dollar, which boosted the value of overseas sales, especially in