Avon earnings rise 7 per cent, short of Wall Street views

NEW YORK: Beauty-products seller Avon Products Inc says net income rose 7 per cent in its third quarter, helped by steep gains in Latin America.

Revenue and earnings fell short of expectations. The 8 per cent gain in revenue from Latin America more offset continuing weakness in North American revenue, which fell 2 per cent.

Avon on Thursday reported net income of $166.7 million, or 38 cents per share. That compares with $156.2 million, or 36 cents per share, in the same period last year.

Adjusted for Venezuela's currency devaluation and restructuring costs, earnings were 41 cents per share.

Analysts expected earnings of 47 cents per share on revenue of $2.69 billion.