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Why Avon Products Stock Dropped 10% Thursday

TheMotleyFool

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Why Avon Products Stock Dropped 10% Thursday

Knock-knock! Avon calling!

Shares of Avon Products (NYSE: AVP) got knocked for a 10% loop in early Thursday trading, before rising ever so slightly to close the day down "only" 9.3%. The culprit, as you might have guessed this time of year, was earnings.

Early this morning, Avon reported its fiscal third-quarter 2017 results, and the news was not great. On an adjusted basis (i.e. what we used to call "pro forma" earnings), Avon reported earnings of just $0.03 per share, which was less than half of the $0.07 per share that Wall Street analysts had predicted it would earn.

Source: Fool.com