Tiffany earnings beat forecasts, ups guidance

Shoppers pass by a Tiffany & Co. billboard.
Daniel Acker | Bloomberg | Getty Images
Shoppers pass by a Tiffany & Co. billboard.

Boosted by sales gains in China, Tiffany reported quarterly earnings that beat analysts' expectations on Tuesday and raised its guidance for the full year.

The company posted second-quarter earnings excluding items of 83 cents per share, up from 72 cents a share in the year-earlier period.

Revenue increased to $925.9 million from $887 million a year ago.

Analysts had expected the company to report earnings excluding items of 74 cents a share on $941 million in revenue, according to a consensus estimate from Thomson Reuters.

The retailer also increased its full-year outlook to $3.50-$3.60 a share from a range of $3.43-$3.53 a share.

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