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Coty Beats Street 4Q Forecasts

Coty Inc. on Thursday reported fiscal fourth-quarter net income of $21 million, after reporting a loss in the same period a year earlier. The results beat Wall Street expectations.
By
  • Associated Press

NEW YORK, United States — Coty Inc. on Thursday reported fiscal fourth-quarter net income of $21 million, after reporting a loss in the same period a year earlier.

The New York-based company said it had net income of 5 cents per share. Earnings, adjusted for one-time gains and costs, were 8 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 $1.02 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $1.01 billion.

Coty shares have climbed 39 percent since the beginning of the year. The stock has climbed 63 percent in the last 12 months.

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