UPDATE: Alliance Data Reports Upbeat Q4 Profit, Lifts Forecast

Alliance Data Systems Corp (NYSE: ADS) reported upbeat fourth-quarter profit and lifted its 2012 outlook.

Alliance Data projects Q1 core earnings per share of $2.13, and $8.45 in the full year 2012. However, analysts were expecting a profit of $2.17 per share in the first quarter and $8.37 per share in 2012.

Alliance Data's quarterly net income climbed to $66 million, or $1.12 per share, from $47 million, or $0.84 per share, last year. Its core earnings came in at $1.70 per share. Alliance Data's revenue surged 12% to $848 million. However, analysts were expecting earnings of $1.49 per share on revenue of $847.9 million.

Alliance Data shares closed at $111.01 yesterday.