UPDATE: Tyco Reports Stronger-Than-Expected FQ3 Profit

Tyco International Ltd TYC reported upbeat fiscal third-quarter profit on Thursday. Tyco's quarterly net income surged to $358 million, or $0.76 per share, from $256 million, or $0.51 per share, in the year-earlier period. Its adjusted earnings from continuing operations came in at $0.85 per share. Tyco's revenue climbed 0.4% y/y to $4.29 billion, from $4.27 billion. However, analysts were expecting earnings of $0.72 per share on revenue of $4.23 billion. Tyco shares closed at $44.74 yesterday.