Avon reports 2Q loss

Markets Associated Press

Avon Products Inc. (AVP) on Thursday reported a second-quarter loss of $45.5 million, after reporting a profit in the same period a year earlier.

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The London-based company said it had a loss of 12 cents per share. Losses, adjusted for non-recurring costs, were 3 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The direct seller of cosmetics posted revenue of $1.4 billion in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $1.44 billion.

The company's shares closed at $3.36. A year ago, they were trading at $4.76.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on AVP at https://www.zacks.com/ap/AVP

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Keywords: Avon Products, Earnings Report