RTTNews | May 10, 2021 10:00AM EDT

09:59 Monday, May 10, 2021 (RTTNews.com) - Shares of beauty products maker Coty Inc. (COTY) are down more than 8% Monday morning after the company's third-quarter results missed analysts' view.

Coty's net loss in the third quarter narrowed to $1.2 million or break even per share from a net loss of $311.0 million or$0.41 per share in the year-ago quarter, on lower expenses.

Excluding items, the company's earnings were break even, compared with the average estimate of 12 analysts polled by Thomson Reuters at $0.01 per share.

Revenue in the quarter decreased 3.3% year-over-year to $1.028 billion. The consensus estimate was for $1.03 billion.

Looking forward to the full-year, Coty expects revenues in the range of $4.5 billion to $4.6 billion. Analysts see revenue of $4.57 billion for the period.

COTY, currently at $9.42, has been trading in the range of $2.65- $10.49 in the past one year.

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