Estee Lauder tops, ups outlook

Investor's Business Daily

The prestige makeup company known for its MAC and Estee Lauder brands said Q2 EPS jumped 12% to $1.13, topping views by 8 cents. Sales rose 7% to $2.9 bil, above estimates of $2.7 bil. U.S. sales rose on new product offerings, but sales in Europe dipped in the Southern European division on economic uncertainty in the area. Sales in the Nordic region were strong on skin care offerings. Estee Lauder (EL) raised its full-year EPS outlook to $2.51- $2.59 from an earlier forecast of $2.47-$2.56. Analysts are expecting $2.57. Shares rose 6% to 64.71.

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