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Coty Tops Street 2Q Forecasts

Coty Inc. on Thursday reported fiscal second-quarter earnings of $89 million. The results exceeded Wall Street expectations.
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  • Associated Press

NEW YORK, United States — Coty Inc. on Thursday reported fiscal second-quarter earnings of $89 million.

On a per-share basis, the New York-based company said it had profit of 25 cents. Earnings, adjusted for one-time gains and costs, were 38 cents per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.

The beauty products company posted revenue of $1.21 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $1.2 billion.

Coty shares have decreased 4 percent since the beginning of the year. The stock has risen 26 percent in the last 12 months.

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