November 6, 2019 / 11:40 AM / 5 days ago

Coty quarterly revenue misses expectations

Nov 6 (Reuters) - Cosmetics maker Coty Inc 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)

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