Coty stock rises premarket after earnings beat

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Coty Inc.’s stock rose 1.1% premarket Tuesday, after the beauty and fragrance company posted better-than-expected earnings for its fiscal third quarter. New...

Coty Inc.’s stock COTY rose 1.1% premarket Tuesday, after the beauty and fragrance company posted better-than-expected earnings for its fiscal third quarter. New York-based Coty had net income of $105.1 million, or 12 cents a share, for the quarter to March 31, up from $50.3 million, or 6 cents a share, in the year-earlier period. Adjusted per-share earnings came to 19 cents, ahead of the 3 cent FactSet consensus. Revenue rose to $1.289 billion from $1.186 billion, also ahead of the $1.

3 million, or 6 cents a share, in the year-earlier period. Adjusted per-share earnings came to 19 cents, ahead of the 3 cent FactSet consensus. Revenue rose to $1.289 billion from $1.186 billion, also ahead of the $1.226 billion FactSet consensus. Revenue was driven by demand for prestige fragrances and retailer restocking.

 

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