Check out Estee Lauder’s profit coming in well ahead of raised expectations.
Sure, we should have expected that. After all, the cosmetics maker said two weeks ago that its fiscal first-quarter profit would be “significantly higher than previous guidance” due to a variety of factors.
Apparently Estee Lauder management, including CEO Fabrizio Freda, has a different understanding of “significantly” than Wall Street.
The company’s old forecast was 23 to 30 cents per share. So, after the brighter tone came on Oct. 16, analysts’ average forecast ticked up from 25 cents to 34 cents, based on Thomson Reuters I/B/E/S data.
How did Estee Lauder do? Try 85 cents. That’s what the company posted on Friday.
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(Reuters photo)
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