Robust Earnings Set Off Shiseido's Biggest Stock Rally In Almost Eight Years

Shiseido rose the most in nearly eight years after the company's fourth quarter earnings and full-year forecast beat analyst estimates.

The stock surged as much as 15% in Tokyo trading Thursday, the biggest intraday gain since May 2018.

The jump came after the cosmetics and beauty company said Tuesday that core operating profit for the fourth quarter rose 61.4% to ¥14.4 billion ($94 million) from a year earlier. It expects core operating profit of ¥69 billion for the year ending December, beating a Bloomberg consensus of ¥63.7 billion.

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