UPDATE: Towers Watson Posts Upbeat FQ4 Profit

Towers Watson & Co

reported a 27% rise in its fiscal fourth-quarter earnings. Towers Watson's quarterly profit surged to $82.9 million, or $1.16 per share, from $65.3 million, or $0.91 per share, in the year-ago period. Excluding one-time items, its adjusted earnings came in at $1.36 per share. Its revenue rose 6% to $875.3 million. The company in May expected adjusted earnings of $1.23 to $1.28 per share on revenue of $870 million to $890 million. Towers Watson's operating margin widened to 14.2% from 11.7%. Towers Watson shares closed at $87.07 yesterday.