Tiffany misses 3Q profit and revenue expectations

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NEW YORK — Tiffany & Co. (TIF) on Tuesday reported net income of $38.3 million in its fiscal third quarter.

On a per-share basis, the New York-based company said it had net income of 29 cents. Earnings, adjusted to extinguish debt, were 76 cents per share.

The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.

The luxury jeweler posted revenue of $959.6 million in the period, which also missed Street forecasts. Analysts expected $970.2 million, according to Zacks.

Tiffany expects full-year earnings in the range of $4.20 to $4.30 per share.

Tiffany shares have climbed 13 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 12 percent. The stock has increased 30 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. TIF stock research report from Zacks.

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Keywords:Tiffany,Earnings Report

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