Asians Are Crazy About Tiffany's

Luxury jeweler Tiffany & Co. is up 7.7% to $87.20, after the company beat Q3 revenue estimates and raised its 2013 profit outlook.

The company reported Q3 earnings of $0.73 per diluted share, on revenue of $911 million.

This beat expectations for $0.58 per share on revenue of $890 million.

Sales were boosted by strong performance in Asia and the U.S.

Comparable store sales in the Asia-Pacific region were up 22% in the third quarter and 15% year-to-date.

Total sales were up 27% to $238 million in Q3, and 20% year-to-date, to $670 million.

In the Americas, comp-store sales were up 1% in Q3 and Ytd in its flagship New York stores. Total sales were up 4% to $417 million, and up 4% year-to-date to $1.3 billion.

The company also raised its guidance and now expected full-year earnings in the range of $3.65-$3.75 per diluted share, from $3.50-$3.60 per diluted share in its previous outlook.