The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
(Adds earnings details, share performance)
SAO PAULO, Aug 14 (Reuters) - Brazilian cosmetics group Natura SA said on Wednesday its second-quarter net profit more than doubled from a year ago, slightly above market expectations, helped by solid sales growth in all segments as well as cost cuts.
In a securities filing on Wednesday, the company said its quarterly net income grew by 109.4% year-on-year to 66.6 million reais ($16.4 million) compared to a consensus estimate of 61.7 million reais compiled by Refinitiv.
"All our three brands (Natura, Aesop and The Body Shop) and businesses contributed to a good performance in the quarter," the company said, adding it hopes to conclude the acquisition of Avon Products Inc. in the beginning of 2020.
Almost two years after acquiring The Body Shop brand from L'Oreal in a 1 billion-euro transaction, Natura struck in May a deal with Avon to create the world's fourth-largest beauty company.
In the quarter ended June 30, Natura posted net revenue of 3.4 billion reais, up 9.8% from the second-quarter of 2018.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 27% to 424.7 million reais. Analysts on average expected an EBITDA of 374.37 million reais, according to Refinitiv data.
The company reported a net debt of 5.53 billion reais on June 30 compared to 5.71 billion reais a year earlier. As a result, its net debt/EBITDA ratio fell from 3.30 to 2.83 in the period.
Natura shares in Sao Paulo rose 43% this year. ($1 = 4.0513 Brazilian reais) (Reporting by Gabriela Mello, editing by G Crosse and Chris Reese)