Avon Products reports 1st-quarter loss of $147.3 million

MarketsAssociated Press

Avon Products Inc. (AVP) on Thursday reported a loss of $147.3 million in its first quarter.

On a per-share basis, the New York, New York-based company said it had a loss of 33 cents. Earnings, adjusted for non-recurring costs and pretax expenses, came to 4 cents per share.

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The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.

The direct seller of cosmetics posted revenue of $1.79 billion in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $1.83 billion.

Avon shares have dropped roughly 8 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 2 percent. The stock has decreased 43 percent in the last 12 months.

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

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Keywords: Avon Products, Earnings Report