February 16, 2018 / 11:48 AM / 3 months ago

Newell Brands' quarterly net sales beat estimates

Feb 16 (Reuters) - Newell Brands Inc reported quarterly sales that beat analysts’ estimates on Friday, helped by strong demand for Rubbermaid food containers and baby products.

The company’s net income rose to $1.65 billion, or $3.38 per share in the fourth quarter ended Dec. 31, from $165.6 million, or 34 cents per share, a year earlier.

The latest quarter benefited from a one-time tax benefit of $1.45 billion.

Net sales fell to $3.74 billion from $4.14 billion, but beat analysts’ estimates of $3.69 billion, according to Thomson Reuters I/B/E/S.

Reporting by Karina Dsouza and Nivedita Balu in Bengaluru

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