Why Estée Lauder Plunged Today
Shares of makeup giant Estée Lauder (NYSE: EL) fell 18.4% on Thursday, as of 3:56 p.m. EDT.
The makeup giant reported earnings this morning, and at first glance, the results were pretty good. Still, Estée Lauder is attempting a slow turnaround, and its stock had already more than doubled off of last April's "Liberation Day" bottom. Therefore, while the December quarter's results showed some progress, it wasn't enough to satisfy investors after a strong run.
In the quarter, Estée Lauder grew revenue 5.8% to $4.23 billion, with adjusted earnings per share up 43% to $0.89.
Source Fool.com
