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LVMH 3Q Revenue Rose, Beating Analyst Estimates

   By Cristina Roca 
 

Luxury-goods giant LVMH Moet Hennessy Louis Vuitton SE (MC.FR) on Wednesday beat analysts' expectations for its third-quarter revenue despite toughening conditions for luxury players.

The French conglomerate posted revenue of 13.32 billion euros ($14.61 billion) for the quarter, rising from EUR11.38 billion the year previous and beating analysts' expectations of EUR12.81 billion, according to a consensus estimate provided by FactSet.

Revenue grew organically by 11%, LVMH said,

LVMH, which owns the Louis Vuitton, Dior, Bulgari and Hennessy brands, said its Asian businesses made good progress despite the disruption caused by protests in Hong Kong.

Fashion and leather goods remained the group's fastest-growing division, growing organically by 19% in the quarter.

 

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

 

(END) Dow Jones Newswires

October 09, 2019 12:21 ET (16:21 GMT)

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