UPDATE: Avon Posts Upbeat Adjusted Earnings

Avon Products AVP reported a narrower fourth-quarter loss. Avon posted a quarterly loss of $69.1 million, or $0.16 per share, versus a year-ago loss of $162.2 million, or $0.37 per share. On an adjusted basis, it earned $0.34 per share. Its revenue fell 10% to $2.67 billion. However, analysts were projecting adjusted earnings of $0.30 per share on revenue of $2.76 billion. Avon shares closed at $15.06 yesterday.