UPDATE: Towers Watson Posts Upbeat Q4 Profit, Issues Weak Q1 Forecast

Towers Watson and Co TW posted a better-than-expected fourth-quarter profit, but issued weak Q1 forecast. Towers Watson projects Q1 earnings of $1.05 to $1.10 per share on revenue of $805 million to $825 million. However, analysts were expecting earnings of $1.25 per share on revenue of $852.1 million. Towers Watson's quarterly net income climbed to $65.3 million, or $0.91 per share, versus $43.9 million, or $0.59 per share, in the year-ago period. Excluding items, Towers Watson earned $1.25 per share. Its overall revenue declined 3% to $826.2 million. However, analysts were expecting earnings of $1.24 per share on revenue of $868.1 million. Towers Watson shares gained 0.19% to close at $58.55 yesterday.