News Summary: Tiffany cuts outlook for the year

Associated Press

NEW YORK (AP) — THE RESULTS: Jewelry company Tiffany & Co.'s fiscal third-quarter profit dropped 30 percent to $63.2 million, or 49 cents. Revenue rose 4 percent to $852.7 million.

WALL STREET'S TAKE: Analysts surveyed by FactSet expected higher earnings of 63 cents per share on revenue of $858.8 million.

LOOKING FORWARD: Tiffany cut its earnings forecast for the year to below analyst expectations.

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