Tiffany (NYSE:TIF) stock got a boost on Tuesday after the release of its earnings report for the second quarter of 2018.
The good news for TIF stock starts with earnings per share of $1.17 reported in the second quarter of the year. This is an increase over the company’s earnings per share of 92 cents reported during the second quarter of 2017. It also beat out Wall Street’s earnings per share estimate of $1.01 for the period.
Net income reported by Tiffany for the second quarter of 2018 came in at $144.70 million. This is better than the company’s net income of $115.00 million that was reported during the same time last year.
Tiffany also reported operating income of $191.20 million for the second quarter of the year. The luxury jewelry and specialty retailer reported operating income of $184.70 million during the same period of the year prior.
Tiffany’s earnings report for the second quarter of 2018 also includes revenue of $1.08 billion. This is up from the company’s revenue of $959.70 million that was reported in the second quarter of the previous year. It was also a boon to TIF stock by coming in above analysts’ revenue estimate of $1.04 billion for the quarter.
Tiffany’s most recent earnings report also includes an update for the company’s 2018 outlook. TIF says that it now expects earnings per share for the year to range from $4.65 to $4.80. It’s previous earnings per share estimate was between $4.50 and $4.70. Wall Street is looking for earnings per share of $4.75 for 2018.
TIF stock was up 1% as of noon Tuesday and is up 21% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.