Why did EL's Q4 2024 earnings exceed forecasts?

Estee Lauder's Q4 2024 earnings exceeded forecasts due to stronger-than-expected sales in Asia travel retail and a rebound in demand for higher-priced skincare and fragrances in the U.S. and Asia Pacific markets: 1. **Asia Travel Retail Sales**: Estee Lauder has been benefiting from a recovery in Asia travel retail, which has led to an increase in sales of its products sold in this channel. This recovery has been particularly strong in countries like Japan and Korea. 2. **Demand Rebound in the U.S. and Asia Pacific**: In addition to the recovery in Asia travel retail, Estee Lauder has also seen a rebound in demand for its higher-priced skincare and fragrances in the U.S. and Asia Pacific markets. This rebound has been driven by factors such as the launch of new products and the company's focus on expanding its direct-to-consumer sales channel. Overall, Estee Lauder's strong performance in these key markets has contributed to its better-than-expected sales and earnings in Q4 2024.