NEW YORK (AP) — NEW YORK (AP) — Estee Lauder Companies Inc. (EL) on Wednesday reported a loss of $546 million in its fiscal fourth quarter.
On a per-share basis, the New York-based company said it had a loss of $1.51. Earnings, adjusted for asset impairment costs and non-recurring costs, were 9 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The beauty products company posted revenue of $3.41 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $3.4 billion.
For the year, the company reported a loss of $1.13 billion, or $3.15 per share. Revenue was reported as $14.33 billion.
Estee Lauder expects full-year earnings in the range of $1.90 to $2.10 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EL at https://www.zacks.com/ap/EL
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