Estée Lauder Companies, Inc. (NYSE:EL) stock is jumping Friday morning as strong quarterly performance and margin expansion overshadow a sweeping restructuring that includes thousands of job cuts.

The beauty giant beat expectations across key segments while reshaping its workforce and strategy to revive growth and profitability.

• What’s next for EL stock?

Quarterly Details

The company reported third-quarter adjusted earnings per share of 91 cents, beating the analyst consensus estimate of 65 cents. Quarterly sales of $3.712 billion (+5% year over year) outpaced the Street view of $3.689 billion.

Skincare sales gained 3% to $1.856 billion, Makeup increased 4%, Fragrance jumped 13%, while Hair Care inched up by 2% in the quarter under review.

Adjusted gross profit in the quarter under review jumped 7% year over year to $2.836 billion. Adjusted ...