LVMH?s Q3 Financial Results Beats Estimates
The world?s largest luxury group raked in a revenue of ?19.76 billion, representing a growth of 19 per cent compared to the same period in 2021.
The post LVMH?s Q3 Financial Results Beats Estimates appeared first on LUXUO.
With economic headwinds gathering momentum and global leaders on high alert, many businesses would expect a general slowdown with revenue most likely to take a dip as consumer confidence falls. For French luxury conglomerate LVMH Moët Hennessy Louis Vuitton, it was a smooth third quarter as the company posted double-digit growth of 19 per cent compared to the same period last year.
For the past three months to 30 September, the group?s sales totalled ?19.76 billion and the results have well-exceeded the estimates of ?18.83 by analysts from Bloomberg. The group also reported that all of its business units recorded healthy double-digit growth. Overall, in the first nine months of 2022, LVMH?s revenue grew by 28 per cent which amounted to ?56.5 billion when compared to the same period in 2021.
Zendaya wearing the Serpenti Hypnotic Emerald necklace.
READ MORE: LVMH H1 Results Signal A Cautious Return of Luxury
Breaking down the results further into its geographical contribution, the group noted that a dip in sales from the US where it saw a 22 per cent growth for the last quarter. For the third quarter, it reported only 11 per cent as the euro slipped below the US dollar and prompted higher sales in capitals like Paris and Milan. The robust de...
The post LVMH?s Q3 Financial Results Beats Estimates appeared first on LUXUO.
With economic headwinds gathering momentum and global leaders on high alert, many businesses would expect a general slowdown with revenue most likely to take a dip as consumer confidence falls. For French luxury conglomerate LVMH Moët Hennessy Louis Vuitton, it was a smooth third quarter as the company posted double-digit growth of 19 per cent compared to the same period last year.
For the past three months to 30 September, the group?s sales totalled ?19.76 billion and the results have well-exceeded the estimates of ?18.83 by analysts from Bloomberg. The group also reported that all of its business units recorded healthy double-digit growth. Overall, in the first nine months of 2022, LVMH?s revenue grew by 28 per cent which amounted to ?56.5 billion when compared to the same period in 2021.
Zendaya wearing the Serpenti Hypnotic Emerald necklace.
READ MORE: LVMH H1 Results Signal A Cautious Return of Luxury
Breaking down the results further into its geographical contribution, the group noted that a dip in sales from the US where it saw a 22 per cent growth for the last quarter. For the third quarter, it reported only 11 per cent as the euro slipped below the US dollar and prompted higher sales in capitals like Paris and Milan. The robust de...
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