Shares of Estée Lauder (EL) are surging 12%.
In its second-quarter earnings report, the company said its quarterly sales surpassed $4 billion for the first time. It also raised its full-year guidance.
Estée Lauder's strongest sales came from the Asia/Pacific region, as well as some of its brands, including the flagship line, its fragrances and MAC Cosmetics.
CEO Fabrizio Freda said the company had an "impressive first-half performance." Estée Lauder expects this year's sales to rise between 5% and 6% compared to 2018.