Shares of Inter Parfums Inc. (IPAR) surged 5.04% on Wednesday, driven by the company's impressive third-quarter earnings results that surpassed Wall Street expectations.
The luxury fragrance maker reported quarterly adjusted earnings of $1.93 per share for the period ended September 30, significantly higher than the analyst consensus estimate of $1.83 per share. Revenue rose 15.4% year-over-year to $424.63 million, also exceeding expectations of $424.91 million.
The strong performance can be attributed to Inter Parfums' robust brand portfolio and successful product launches, which fueled growth across its key markets. The company's net income for the quarter reached $62.26 million, further highlighting its profitability.
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