Tiffany & Co. earnings for the company’s fourth quarter of 2018 have TIF stock up on Friday despite a sales miss.
Tiffany & Co. (NYSE:TIF) reported revenue of $1.32 billion for the fourth quarter of 2018. This is a slight drop from its revenue of $1.33 billion reported in the fourth quarter of 2017. It also comes in below Wall Street’s revenue estimate of $1.34 billion for the period, but couldn’t keep TIF stock down today.
The Tiffany & Co. earnings report for the fourth quarter of the year also has earnings per share coming in at $1.67. This matches the company’s earnings per share from the same period of the year prior. It was also a blessing for TIF stock by beating out analysts’ earnings per share estimate of $1.61 for the quarter.
Tiffany & Co. earnings for the fourth quarter of 2018 also include net income of $204.50 million. This is up from its net income of $61.90 million reported in the fourth quarter of the previous year.
The most recent Tiffany & Co. earnings report also has it bringing in operating income of $268.40 million. The company’s operating income reported during the same time last year was $311.10 million.
Tiffany & Co. also provides its outlook for the full year of 2019 in its earnings report for the fourth quarter of the year. This includes it expecting a mid-single-digit percentage increase for earnings per share. It is also expecting revenue for the year to be up in the low-single-digit percentage range.
TIF stock was up 3% as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.