Avon Products, Inc. (NYSE:AVP) stock was up today following the release of its earnings report for the fourth quarter of 2017.
During the fourth quarter of the year, Avon Products, Inc. reported earnings per share of 12 cents. This is an increase over its earnings per share of one penny from the same time last year. It was also good news fro AVP stock by beating out Wall Street’s earnings per share estimate of 7 cents for the quarter.
Avon Products, Inc.’s net income for the fourth quarter of 2017 came in at $90.40 million. This is better than the net loss of $9.7 million that was reported in the same period of the year prior.
Operating income reported by Avon Products, Inc. for the fourth quarter of the year was $130 million. The direct selling company of personal care and beauty products reported operating income of $107 million in the fourth quarter of 2016.
Avon Products, Inc.’s revenue for the fourth quarter of 2017 was $1.57 billion. This is roughly the same as its revenue reported in the same quarter of the previous year. However, it does come in slightly lower than analysts’ revenue estimate of $1.60 billion for the period.
“Our top line remains under pressure as we continue to operate in challenging macro and competitive conditions, particularly in our largest markets,” Jamie Wilson, CFO of Avon Products, Inc., said in a statement. “We delivered improving operating margins in the fourth quarter supported by continued benefit from our ongoing cost savings initiatives.”
AVP stock was up 7% as of Thursday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.