Tiffany Shares Rise on Quarterly Results and Outlook

Shares of Tiffany were higher Thursday after posting second quarter results which beat on the bottom line, but missed on the top line.
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Shares of Tiffany & Co. (TIF) - Get Report were higher Thursday after posting second quarter results which beat on the bottom line, but missed on the top line. The luxury jeweler posted earnings of $0.84 a share, which beat Wall Street's expectations by 13 cents. But, revenue of $931.6 million for the period missed analysts' predictions of $933.3 million. Looking ahead, Tiffany's maintained its full-year earnings outlook of $3.83 a share. CEO Frederic Cumenal said in a statement that the global environment continues to reflect well known challenges that have had broad effects on spending by local customers, as well as foreign tourists, especially from China.

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