Tiffany Income Jumps on Robust Overseas Growth

Tiffany & Co. says strong sales of its jewelry both in the U.S. and overseas helped third-quarter net income rise 27 percent.

The jewelry maker famous for its iconic turquoise box is raising its yearly guidance and says sales are exceeding expectations as the holiday season starts.

Tiffany says net income rose to $55.1 million, or 43 cents per share, from $43.3 million, or 34 cents per share. That beat analyst expectations of 37 cents per share.

Revenue rose 14 percent to $681.7 million. Analysts expected $652.8 million.

Revenue in Japan, Asia and Europe outpaced growth in North and South America. But revenue was higher in every geographic region.

Luxury spending has rebounded as the affluent have recovered from the recession faster than others as the stock market rebounds.

NEW YORK (AP)