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Stock Alert: Coty Climbs Following Better Earnings Results

Shares of Coty Inc. (COTY) are surging more than 15% on Wednesday after the beauty products maker reported better-than-expected second-quarter results.

COTY is up more than 70% in the past one year. The stock is currently trading at $12.18, close to its 52-week high of $14.14.

Net loss in the second quarter narrowed to $21.1 million or $0.03 per share from $960.6 million or $1.28 per share in the prior-year period. Adjusted EPS rose to $0.27 from $0.24 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share.

Revenue, however, decreased 6.6% year-on-year to $2.345 billion.

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