Shares Of Newell Brands Rise In Pre-market Following Q1 Results

(RTTNews) - Shares of Newell Brands Inc. (NWL) were rising more than 7 percent in pre-market on Friday to $7.48, after reporting better-than-expected first-quarter results.

The company posted a loss of $9 million or 0.02 per share in the first quarter, lower than loss of $102 million or $0.25 per share in the same period last year.

Excluding items, loss was $2 million or breakeven per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.07 loss per share.

Revenue for the quarter declined to $1.653 billion from $1.805 billion a year ago, but beat the consensus estimate of $1.64 billion.

Newell Brands shares had closed at $6.94, down 1.42 percent. The stock has been trading in the range of $6.50 - $12.32 in the last 1 year.