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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NEGATIVE IMPACT
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.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100