UPDATE: Tiffany Posts Higher Q3 Profit, Lifts Outlook
Tiffany & Co (NYSE: 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.
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