L'Oreal (OR) Stock Surges 9% After 7.6% Organic Sales Growth

AI Summary

L'Oreal (OR) shares rose by up to 10% after reporting a 7.6% increase in organic sales for Q1, totaling 12.2 billion euros ($14.3 billion). This growth exceeded analysts' expectations of approximately 3%. Adjusted for one-off items, the company's growth was recorded at 6.7%. The results indicate strong market share gains and robust performance in e-commerce, particularly in emerging markets. The stock is on track for its largest daily gain since November 2008, although it had declined by 2% over the past 12 months prior to this update.