Avon Products Inc. AVP, leading manufacturer and marketer of beauty and related products, reported adjusted loss of 7 cents per share for first-quarter 2016 results, comparing unfavorably with the Zacks Consensus Earnings Estimate of an earnings of 2 cents and year-ago earnings of 3 cents per share.Earnings Estimate Revision: The Zacks Consensus Estimate has been declined over the last 30 days. Further, if we look at Avon’s performance in the trailing four quarters (excluding the quarter under review), the surprise history has been largely negative. The company has posted negative surprise in three of the trailing four quarters, with an average surprise of -85.7%.Revenues: Avon Products’ total revenue of $1,306.5 million decreased about 16% year over year but surpassed the Zacks Consensus Estimate of $1,282 million. The year over year decline in total revenue was attributable to a fall in Active Representatives, adverse currency movements and sale of Liz Earle. On a constant dollar basis, sales grew 2%, while sales jumped 3% on a constant dollar basis and on excluding the impact of Liz Earle’s divestiture.Key Events: Avon deconsolidated its Venezuelan operations from its business as of Mar 31, 2016, following which forms a part of the company’s “Other operating segments.” The latter will also include prior results of Liz Earle among other items. Additionally, the company changed its segment reporting, which will now present segment performance under Europe, Middle East & Africa; South Latin America; North Latin America; and Asia Pacific. Further, Avon introduced a metric called “Change in Ending Representatives,” which it believes can be an essential revenue performance indicator.Zacks Rank: Currently, Avon Products carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.Check back later for our full write up on Avon Products’ earnings report!Want the latest recommendations from Zacks Investment Research? Today, you can download 7Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AVON PRODS INC (AVP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research