UPDATE: Tiffany Posts Higher Q3 Profit, Lifts Outlook

Tiffany & Co TIF reported a 50% surge in its third-quarter profit. Tiffany's quarterly profit gained to $94.6 million, or $0.73 per share, versus a year-ago profit of $63.2 million, or $0.49 per share. Its revenue climbed to $911.5 million from $852.7 million, while same-store sales rose 7%. However, analysts were estimating earnings of $0.58 per share on revenue of $888 million. Tiffany lifted its full-year earnings forecast to $3.65 to $3.75 per share, versus its earlier outlook of $3.50 to $3.60 per share. Tiffany shares gained 6.49% to $86.25 in pre-market trading.