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Coty's fiscal Q2 adjusted EPS beats expectations

Coty Inc. on Feb. 8 reported adjusted EPS of 32 cents for the fiscal second quarter ended Dec. 31, 2017, above the S&P Capital IQ normalized EPS consensus estimate of 23 cents.

Adjusted net income totaled $237.2 million, 6% higher than $223.3 million in the year-ago period.

Net revenues totaled $2.64 billion, up 14.8% from the second quarter of fiscal 2017 and up 10.3% on a constant-currency basis.

While the company did not provide updated guidance for fiscal 2018, it noted that it expects "positive but modest net revenue growth" for the second half of the year. It expects impact from tax reform in the United States to be "neutral."