NEW YORK — Tiffany & Co. on Friday posted mixed results for the holiday season, with profit meeting estimates but revenue falling short. Shares of the company slipped 4 per cent in premarket trading.
The company reported fiscal fourth-quarter net income of $204.5 million. On a per-share basis, the New York-based company said it had net income of $1.67. Earnings, adjusted for pretax gains, came to $1.60 per share.
The results matched Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of $1.60 per share.
The luxury jeweler posted revenue of $1.32 billion in the period ended Jan. 31, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $1.34 billion.
For the year, the company reported profit of $586.4 million, or $4.75 per share. Revenue was reported as $4.44 billion.
Tiffany shares have risen 24 per cent since the beginning of the year, while the Standard & Poor's 500 index has risen 14 per cent. The stock has climbed 3 per cent in the last 12 months.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TIF at https://www.zacks.com/ap/TIF
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