Trending: L'Oreal Reports Higher Sales Despite Fears of Market Slowdown
0946 GMT - L'Oreal is among the most mentioned companies across news items over the past 12 hours, according to Factiva data after it posted an increase in first-quarter revenue, shrugging off fears of a slowdown in the beauty market. The French cosmetics giant booked sales of EUR11.24 billion for the first quarter, up 8.3% in reported terms compared with the prior-year period. The increase offers hope, especially after the company posted results for 2023 as a whole that missed analysts' forecasts in a year marked by geopolitical tensions, inflation and a stagnating beauty market in China. Still, Chief Executive Nicolas Hieronimus said he is optimistic on the outlook of the global beauty market and expects L'Oreal to keep outperforming the market. "Amid a noisy few weeks on beauty with fears of a market slowdown, this result should drive a strong positive share reaction," Jefferies analysts say in a note to clients. L'Oreal shares trade 4.6% higher at EUR442.95. Dow Jones & Co. owns Factiva. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
April 19, 2024 06:02 ET (10:02 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening in the Markets This Week
-
4 Top Dividend-Paying REIT Stock Picks
-
After Earnings, Is Netflix Stock a Buy, a Sell, or Fairly Valued?
-
P-CAPE: A Better Way for Investors to Estimate Future Returns
-
Which Stocks Have Driven the Stealth Large-Value Rally?
-
Forecasts for Q2 GDP Report Show a Healthy but Slowing Economy
-
5 Stocks to Buy as the Market Rally Broadens
-
4 Top US Travel Stock Picks
-
How Do Interest Rates Affect Stock Market Returns?
-
American Airlines Earnings: Ticket Distribution Misstep Affected Results
-
Going Into Earnings, Is Albemarle Stock a Buy, a Sell, or Fairly Valued?
-
3 Top Cybersecurity Stock Picks for Long-Term Investors
-
AbbVie Earnings: Firm Sees Strong Next-Generation Immunology Drugs Sales
-
Ford Earnings: Warranty Problems on Older Vehicles Slam Results
-
ServiceNow Earnings: Operating on a Higher Plane Within Enterprise Software