Avon Products, Inc. (NYSE:AVP) has released its earnings report for the first quarter of 2017.
Losses per share reported by Avon Products, Inc. in the first quarter of the year was 7 cents. This matches the losses per share that were reported by the company during the first quarter of the year prior. However, it came in below Wall Street’s earnings per share estimate of one penny for the quarter.
Avon Products, Inc. reported revenue of $1.33 billion for the first quarter of 2017. This was up 2% over its revenue from the same time last year. However, it just missed analysts’ revenue estimate of $1.34 billion for the first quarter of 2017.
During the first quarter of the year, Avon Products, Inc. reported operating income of $28.7 million. This is an increase over its operating income of $7.8 million that was reported in the same period of last year.
Net loss reported by Avon Products, Inc. in the first quarter of 2017 was $36.5 million. This is a vast improvement over its net loss of $165.4 million that was reported during the first quarter of the previous year.
Avon Products, Inc. also updated its outlook for the full year of 2017 in its most recent earnings report. The cosmetics company is expecting constant-dollar revenue growth to be in in the low single-digits this year. It is also expecting adjusted operating margin expansion of 100 bps to 140 bps, and free cash flow to be slightly positive.
AVP stock was up slightly as of Friday afternoon, but is down 27% year-to-date.
