Tiffany & Co. (TIF) Earnings: Did Luxury Jeweler Beat Estimates In Third Quarter?

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Tiffany & Co. (NYSE: TIF) reported fiscal third-quarter earnings of 73 cents per share, or $94.6 million, compared with 49 cents per share, or $63.2 million, a year ago. During the quarter ended Oct. 31, global sales increased 7 percent to $911.5 million. The luxury goods retailer also raised its profit outlook.

Shares of Tiffany jumped 7.68 percent to $87.21 in morning trading.

The Dow Jones industrial average rose 16.25 points or 0.1 percent, to 16,088.79. The S&P 500 gained 1.02 points or 0.06 percent, to 1,803.48. The Nasdaq Composite added 5.49 points or 0.14 percent, to 4,000.72.

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