Tiffany & Co. (TIF) on Friday reported fiscal fourth-quarter earnings of $61.9 million.
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The New York-based company said it had net income of 50 cents per share. Earnings, adjusted for pretax expenses, were $1.67 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.63 per share.
The luxury jeweler posted revenue of $1.33 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $1.3 billion.
For the year, the company reported profit of $370.1 million, or $2.96 per share. Revenue was reported as $4.17 billion.
Tiffany expects full-year earnings to be $4.25 to $4.45 per share.
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Tiffany shares have decreased 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed almost 3 percent. The stock has increased 14 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on TIF at https://www.zacks.com/ap/TIF
