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Estee Lauder's 2nd-quarter profit down 3 percent

Estee Lauder's fiscal 2nd-quarter profit down 3 percent on foreign currency impact

Associated Press

NEW YORK (AP) -- The Estee Lauder Cos. said that profits for its fiscal second quarter fell 3 percent, as results were hurt by the impact of foreign currency translation.

The New York-based beauty company, whose brands include Clinique, Bobbi Brown and its namesake, said Wednesday that it earned $432.5 million, or $1.09 per share, in the three-month period ended Dec. 31. That compares with $447.5 million, or $1.13 per share, in the year-earlier period.

Revenue rose 3 percent to $3.02 billion for the quarter.

Analysts had expected a profit of $1.06 on revenue of $3.03 billion, according to FactSet.

The company maintained its full-year profit guidance of $2.80 to $2.87. Analysts are expecting $2.88 per share.

Shares were down more than 6 percent, or $4.30, to $64.89 in morning trading.