NEW YORK (TheStreet) -- Spirit Airlines (SAVE) - Get Spirit Airlines, Inc. Report shares are up 6.16% to $70.46 on Tuesday after the discount airline reported its third quarter earning results before the opening bell today.

The company reported a 28% increase in earnings to $1.01, 4 cents better than analysts were expecting for the period and 22 cents better than the 79 cents per share the company reported last year.

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Revenue for the period rose 14% to $519.8 million from $456.7 million, short of analysts expectations of $520.8 million.

The company's earnings for the period come ahead of the holiday season which is one of the busiest travel times of the year.

TheStreet Ratings team rates SPIRIT AIRLINES INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate SPIRIT AIRLINES INC (SAVE) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."

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