Coty Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Coty Inc. (COTY) announced a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $177.6 million, or $0.20 per share. This compares with $235.0 million, or $0.27 per share, in last year's second quarter.

Excluding items, Coty Inc. reported adjusted earnings of $229.1 million or $0.25 per share for the period.

Analysts on average had expected the company to earn $0.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.8% to $1.73 billion from $1.52 billion last year.

Coty Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $177.6 Mln. vs. $235.0 Mln. last year. -EPS (Q2): $0.20 vs. $0.27 last year. -Analyst Estimates: $0.20 -Revenue (Q2): $1.73 Bln vs. $1.52 Bln last year.