UPDATE: Avon Posts Upbeat Adjusted Earnings
Avon Products (NYSE: AVP) reported a narrower fourth-quarter loss.
Avon posted a quarterly loss of $69.1 million, or $0.16 per share, versus a year-ago loss of $162.2 million, or $0.37 per share. On an adjusted basis, it earned $0.34 per share.
Its revenue fell 10% to $2.67 billion. However, analysts were projecting adjusted earnings of $0.30 per share on revenue of $2.76 billion.
Avon shares closed at $15.06 yesterday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.