Tapestry: Fiscal Q1 Earnings Snapshot

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NEW YORK (AP) — NEW YORK (AP) — Tapestry Inc. (TPR) on Thursday reported fiscal first-quarter net income of $195 million.

The New York-based company said it had profit of 84 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 93 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.

The maker of high-end shoes and handbags posted revenue of $1.51 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $1.54 billion.

Tapestry expects full-year earnings to be $4.10 to $4.15 per share, with revenue expected to be $6.7 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TPR at https://www.zacks.com/ap/TPR