Avon net income rises but adjusted earnings disappoint

Published: 31-Oct-2008

Strong beauty sales have helped Avon Products Inc increase its third-quarter net income by 60%. The company’s net income for the three months ended 30 September increased to $222.6m, or 52 cents per share, from $139.1m, or 32 cents in the same period 2007.


Strong beauty sales have helped Avon Products Inc increase its third-quarter net income by 60%. The company’s net income for the three months ended 30 September increased to $222.6m, or 52 cents per share, from $139.1m, or 32 cents in the same period 2007.

However, adjusted earnings failed to reach analysts expectations due to the US’s declining consumer climate. Excluding a tax benefit of 9 cents a share and a restructuring share of 2 cents in the most recent quarter, earnings of 45 cents narrowly missed analyst estimates of 50 cents, according to Yahoo finance.

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