Tapestry, Inc. Q1 Profit Beats Estimates

(RTTNews) - Tapestry, Inc. (TPR) revealed a profit for first quarter that beat the Street estimates.

The company's earnings came in at $195.0 million, or $0.84 per share. This compares with $195.3 million, or $0.79 per share, in last year's first quarter.

Excluding items, Tapestry, Inc. reported adjusted earnings of $216.3 million or $0.93 per share for the period.

Analysts on average had expected the company to earn $0.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenue came in at $1.51 billion, equal to the mark posted in the same period last year.

Tapestry, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $195.0 Mln. vs. $195.3 Mln. last year. -EPS (Q1): $0.84 vs. $0.79 last year. -Analyst Estimates: $0.90 -Revenue (Q1): $1.51 Bln vs. $1.51 Bln last year.

-Guidance: Full year EPS guidance: 4.10 to $4.15 Full year revenue guidance: $6.7 Bln