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Coty quarterly revenue misses expectations

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Reuters
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Cosmetics maker Coty Inc posted first-quarter revenue below Wall Street estimates on Wednesday, hit by sluggish sales in its biggest business, consumer beauty.

Nov 6 (Reuters) - Cosmetics maker Coty Inc COTY.N posted first-quarter revenue below Wall Street estimates on Wednesday, hit by sluggish sales in its biggest business, consumer beauty.

Net income attributable to the company was $52.3 million, or 7 cents per share, in the quarter ended Sep. 30, compared with a loss of $12.1 million, or 2 cents per share, a year earlier.

Net revenue fell 4.4% to $1.94 billion. Analysts were expecting $1.97 billion, according to IBES data from Refinitiv.

(Reporting by Praveen Paramasivam and Soundarya J in Bengaluru; Editing by Shinjini Ganguli)

((Praveen.Paramasivam@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 0422;))

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