NEW YORK (TheStreet) -- Tyco International (TYC) stock is gaining 1.65% to $37.54 in morning trading on Friday after the company announced fiscal 2015 third quarter earnings per share that surpassed estimates, as revenue fell short of expectations.

The security company posted earnings of 59 cents per share on revenue of $2.49 billion for the quarter ended June 26.

Analysts had estimated earnings of 56 cents per share on revenue of $2.52 billion for the third quarter of fiscal 2015.

Last year, the company reported earnings of 54 cents per share on revenue of $2.66 billion for the third quarter of fiscal 2014.

The company's revenue was hurt by its global businesses, which were affected by unfavorable foreign currency exchange rates.

Additionally, the company expects restructuring efforts and other initiatives to lead to a 12% to 13% growth in earnings for fiscal 2015, CEO George Oliver said in a statement.

Separately, TheStreet Ratings team rates TYCO INTERNATIONAL PLC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate TYCO INTERNATIONAL PLC (TYC) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and a generally disappointing performance in the stock itself."

You can view the full analysis from the report here: TYC Ratings Report

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