Avon shares slump 8.4% in Thursday trading

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Avon’s stock surges after adjusted profit matches expectations, while revenue fell shy

Shares of Avon Products Inc. rose 7.9% in premarket trade Thursday, after the beauty products company reported a fourth-quarter adjusted profit that met expectations, while revenue was a bit shy. The beauty products company swung to a net loss of $77.6 million, or 19 cents a share, from earnings of $91.5 million, or 17 cents a share, in the same period a year ago. Excluding non-recurring items, the adjusted earnings per share was 7 cents, compared with the FactSet consensus of 7 cents. Total revenue fell 11% to $1.40 billion, just below the FactSet consensus of $1.43 billion, as a beat in South Latin America was offset by misses in EMEA, North Latin America and Asia Pacific. Active representatives declined 5%, with declines in all reporting segments, while adjusted average order increased 2%. The stock has rallied 28% over the past 12 months while the S&P 500 has gained 2%.

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