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Aaron's (AAN) Stock Jumps on Q3 Earnings Beat

NEW YORK (TheStreet) -- Shares of Aaron's (AAN) were spiking 9.32% to $24.75 on heavy trading volume late Friday afternoon after the company posted better-than-expected earnings for the 2016 third quarter.

Before today's market open, the Atlanta-based rent-to-own company reported adjusted earnings of 50 cents per diluted share, surpassing analysts' estimates of 47 cents per share.

Revenue for the period was $769.0 million, below analysts' projections of $784.4 million.

"Our third quarter results benefited from strong lease portfolio performance at...