Revlon Jumps After Reporting Narrower Q3 Net Loss, Unveiling Restructuring Plan

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(RTTNews.com) - Shares of Revlon, Inc, ( REV ) have shown a substantial move to the upside during trading on Friday, with the cosmetics maker surging up by 27.8 percent.

The jump by Revlon comes after the company reported a third quarter net loss of $11.1 million compared to a loss of $32.4 million in the prior-year period.

Revlon said the lower net loss was driven by higher operating income as well as a larger tax benefit primarily due to the impact of the U.S. Tax Act.

The company also unveiled a restructuring plan expected to deliver in the range of approximately $125 million to $150 million of annualized cost reductions by the end of 2019.

Read the original article on RTTNews (http://www.rttnews.com/2953942/revlon-jumps-after-reporting-narrower-q3-net-loss-unveiling-restructuring-plan.aspx)

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This article appears in: World Markets , Stocks , Technology
Referenced Symbols: REV

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