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Tupperware shares jump as Q3 profit, revenue surpass estimates

Sales drop as currency headwinds continue to hurt the maker of plastic food ware.

Growth in a variety of different markets worldwide helped Tupperware beat profit estimates in the third quarter.

Tupperware Brands (NYSE:TUP) jumped on Wednesday after  the household goods maker

posted higher-than-expected profit in its latest fiscal quarter, helped by growth in a variety of different markets around the world.

Shares rose 8.6% to $59.93 at 12:44 p.m. in New York, paring this year’s slump to 4.7%

Net income increased to $36.2mln, or $0.72 per share, for the 13 weeks ended September 26, from $32.3mln or $0.63 per share, a year earlier, the Orlando, Florida-based company said in a statement on Wednesday.

Stripping of the impact of foreign currency rates, earnings were $0.79 per share, above the $0.71 average estimate of nine analysts surveyed by Capital IQ.

Revenue slid 11.4% to $521mln, surpassing the Wall Street consensus of $516mln.

The company lowered its full-year adjusted earnings forecast on a per-share basis to a range between $4.39 and $4.44, down from $4.42 to $4.52. Analysts had forecast adjusted earnings per share of $1.47.

Quick facts: Tupperware Brands

Price: 5.72 USD

Market: NYSE
Market Cap: $279.7 m

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