LONDON (AP) _ Avon Products Inc. (AVP) on Thursday reported a loss of $32.7 million in its first quarter.
On a per-share basis, the London-based company said it had a loss of 9 cents. Earnings, adjusted for restructuring costs and to account for discontinued operations, came to 3 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The direct seller of cosmetics posted revenue of $1.19 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $1.25 billion.
The company's shares closed at $3.15. A year ago, they were trading at $2.59.
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 https://www.zacks.com/ap/AVP