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Markets News

Estee Lauder quarterly sales top Wall Street expectations

Nov 2 (Reuters) - M.A.C brand owner Estee Lauder Cos Inc beat analysts’ estimates for first-quarter sales on Monday, benefiting from strong Chinese demand for its premium skincare products.

Net earnings attributable to the company fell to $523 million, or $1.42 per share, in the first quarter ended Sept. 30, compared with $595 million, or $1.61 per share, a year earlier.

Net sales fell to $3.56 billion from about $3.90 billion a year earlier, but were above expectations of $3.46 billion, according to Refinitiv data. (Reporting by Aditi Sebastian and Praveen Paramasivam in Bengaluru; Editing by Aditya Soni)

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