0926 GMT - Swatch results are likely to be received poorly by the market, specially after some of its peers reported revenue growth in the fourth quarter, RBC Capital Markets analyst Piral Dadhania says in a research note. Cartier owner Richemont posted a strong business update earlier this month, with better-than-expected growth at its watches division. Meanwhile, Swatch's earnings before interest and taxes of 304 million Swiss francs, are 40% below consensus expectations and revenues missed the analysts' targets by 3%. Given the magnitude of the disappointment, Swatch's full-year earnings will likely see significant consensus downgrades, Dadhania says. Shares are down 5.7% at 154.30 Swiss francs. (maitane.sardon@wsj.com)
(END) Dow Jones Newswires
January 30, 2025 04:30 ET (09:30 GMT)
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