Coty Reports Q2 Earnings Miss: $23.7M Net Income, 11 Cents EPS
Coty Inc. (COTY) announced its fiscal second-quarter earnings today, reporting a net income of $23.7 million or 2 cents per share. Adjusted for non-recurring costs, EPS came in at 11 cents, falling short of analysts' expectations of 22 cents per share.
Revenue for the quarter was $1.67 billion, also below the consensus estimate of $1.72 billion from eight analysts polled by Zacks Investment Research. These results indicate that Coty missed both earnings and revenue targets.
Despite the disappointing financial performance, Coty's stock price remains relatively unchanged in pre-market trading. Investors will likely continue to monitor the company's progress in the coming quarters to assess its long-term prospects.