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Coty Reports Third-Quarter Loss

Shares in the beauty company have dropped nearly 3 percent since the beginning of the year.
Model Kaia Gerber for Marc Jacobs Fragrances.
Model Kaia Gerber for Marc Jacobs Fragrances. (Courtesy)
By
  • Associated Press

NEW YORK, United States —  Coty Inc. on Wednesday reported a loss of $164.2 million in its fiscal third quarter.

On a per-share basis, the New York-based company said it had a loss of 22 cents. Earnings, adjusted for one-time gains and costs, were 15 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The beauty products company posted revenue of $2.03 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $1.96 billion.

Coty shares have dropped nearly 3 percent since the beginning of the year. The stock has dropped 33 percent in the last 12 months.

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