Coty Inc. (COTY Quick QuoteCOTY - Free Report) , the manufacturer and marketer of beauty products, came out with third-quarter fiscal 2018 results. Adjusted earnings of 13 cents a share came a penny ahead the Zacks Consensus Estimate of 12 cents, while it tumbled nearly 13% year-over-year.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has trended downward in the past 30 days. However, in the trailing four quarters (excluding the quarter under review), the company has topped the Zacks Consensus Estimate by an average of 3.1%.

Revenues: Coty generated net sales of $2,222.7 million that advanced 9.4% year over year and came ahead of the Zacks Consensus Estimate of $2,187 million. Sales grew 3.4% on a constant currency basis.

Key Events: Concurrent to the earnings release, Coty announced a quarterly dividend of 12.5 cents per share, payable on Jun 14, 2018. Also, the company concluded the previously unveiled portfolio rationalization plan after completing the third quarter.

Zacks Rank: Currently, Coty carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Check back later for our full write up on Coty earnings report!

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>