Coty: Fiscal 1Q Earnings Snapshot
NEW YORK (AP) _ Coty Inc. (COTY) on Wednesday reported a loss of $12.1 million in its fiscal first quarter.
The New York-based company said it had a loss of 2 cents per share. Earnings, adjusted for non-recurring costs, came to 11 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The beauty products company posted revenue of $2.03 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $2.16 billion.
Coty shares have declined 44 percent since the beginning of the year. The stock has dropped 23 percent in the last 12 months.