February 8, 2019 / 11:47 AM / 8 months ago

Coty's quarterly results beat expectations, shares surge

Feb 8 (Reuters) - Cosmetics and perfume maker Coty Inc on Friday reported quarterly revenue and profit that topped Wall Street expectations, benefiting from strong sales in North America, sending its shares up 10 percent.

Net loss attributable to Coty was $960.6 million, or $1.28 per share, in the second quarter ended Dec. 31, compared with a profit of $109.2 million, or 15 cents per share, a year earlier, as the company incurred an asset impairment charge.

Excluding certain items, the company earned 24 cents per share, topping expectations of 22 cents.

Net revenue fell 4.8 percent to $2.51 billion, but beat expectations of $2.47 billion, according to IBES data from Refinitiv. (Reporting by Jaslein Mahil in Bengaluru; Editing by Maju Samuel)

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