Avon Products and Teva Pharmaceuticals reported the earnings results from their first fiscal quarters before opening bell this morning. Avon reported adjusted earnings of 4 cents per share, a 67% decline from last year, on $1.8 billion in revenue, an 18% year over year decline, for the first quarter. The company posted adjusted diluted losses of 21 cents per share. Analysts had been expecting earnings of 7 cents per share on $1.83 billion in sales.

Teva posted non-GAAP earnings of $1.36 per share, beating the estimate of $1.25 per share, on $5 billion in revenue, compared to the consensus estimate of $4.84 billion in revenue.

Avon Products, Inc. Misses Estimates, Teva Pharmaceutical Industries Ltd Beats

Key metrics from Avon’s earnings report

Avon’s diluted losses were 33 cents per share, compared to last year’s loss of 38 cents per share. Management said the stronger dollar weighed more heavily on the company’s results than they had thought it would.

The multi-level marketing company saw a 1% decline in active representatives and a 2% decline in total units. Beauty sales fell 17% but rose 3% in constant dollars. Fashion and Home sales fell 19% or 3% in constant currency. Avon’s gross margin rose 440 basis points to 60.6%. Sales in Latin America fell 22%, while Europe, the Middle East and Africa sales fell 16%. North America sales fell 18%, and revenue from the Asia Pacific region declined 1%.

Avon management continues to project revenue in constant dollars to be “up modestly” this year. In reported dollars, they expect a negative impact of about 17 points from currencies.

Key metrics from Teva’s earnings report

Teva reported an 8% increase in organic revenue, excluding currency exchange. GAAP earnings were 42 cents, a decline of 40% from last year. The drug maker reported a $368 million negative impact from fluctuations in global currencies.

Generic medicines saw an increase of profitability to 30.5%, compared to 21% in the same quarter last year. Revenue for the segment increased 9% or 18% in local currencies year over year to $2.6 billion. Teva reported Specialty medicines of $2 billion, a 7% decline from last year.