LVMH 9M Organic Growth 6%; 9M Revenue €60.8 Billion; Q3 Revenue Of €19.08B Vs €20.33B Est; Organic Revenue Down -3% Vs +2% Est; Fashion And Leather Goods Revenue At €9.15B Vs €9.82B Est; Organic Revenue For Fashion And Leather Goods Declines -5% Vs +4% Est
Portfolio Pulse from Benzinga Newsdesk
LVMH reported a 6% organic growth for the first nine months of the year, with total revenue of €60.8 billion. However, Q3 revenue fell short of expectations at €19.08 billion compared to the estimated €20.33 billion. The fashion and leather goods segment also underperformed, with revenue of €9.15 billion versus the expected €9.82 billion.
October 15, 2024 | 3:50 pm
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LVMH's Q3 revenue and fashion segment underperformed expectations, which may negatively impact short-term stock performance.
LVMH's Q3 revenue of €19.08B was below the estimated €20.33B, and the fashion and leather goods segment also missed expectations. This underperformance is likely to negatively impact investor sentiment and the stock price in the short term.
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