Avon: 2Q Earnings Snapshot
LONDON (AP) _ Avon Products Inc. (AVP) on Thursday reported a loss of $19.5 million in its second quarter.
The London-based company said it had a loss of 6 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 6 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The direct seller of cosmetics posted revenue of $1.17 billion in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $1.25 billion.
The company’s shares closed at $4.25. A year ago, they were trading at $1.59.