L'Oreal shares fall as sales miss estimates
L'Oreal SA slid in Paris trading after the world's largest cosmetics maker reported sales that missed analysts' estimates amid the weakest performance in North America since 2009. Revenue fell 0.8 per cent to Euro 5.48 billion ($7.5 billion), Paris-based L'Oreal said after markets closed. Analysts predicted Euro 5.56 billion, according to the average of 10 estimates compiled by Bloomberg. Sales climbed 4.1 per cent, excluding currency shifts and acquisitions, less than the average prediction for 4.9 per cent growth.
AstraZeneca profit misses estimates
AstraZeneca Plc said third-quarter profit fell 31 per cent as sales of the Brilinta heart drug failed to offset generic competition for its best-selling medicines. The company also named a new chief financial officer. Profit excluding restructuring costs and certain other items declined to $2.03 billion, the London-based drugmaker said on Thursday in a statement. On that basis, earnings were $1.21 a share, missing the $1.27 average estimate of 14 analysts compiled by Bloomberg.
Shell profit misses analyst estimates
Royal Dutch Shell Plc, Europe's biggest oil company, reported third-quarter earnings that missed analyst estimates as production and refinery margins dropped. Profit excluding one-time items and inventory changes fell 32 per cent to $4.5 billion from $6.6 billion a year earlier, Shell said.
