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Restoration Hardware Earnings: RH Stock Soars as Q1 EPS Smash Guidance

Restoration Hardware (NYSE:) unveiled its quarterly earnings results late today, bringing in a profit that surpassed what analysts called for, while revenue was also ahead of the mark, playing a role in lifting RH stock more than 20% after hours on Wednesday.

The Corte Madera, Calif.-based home furnishings stores business announced that for its first quarter of its fiscal 2019, it brought in a profit of $35.7 million, which tallied up to $1.43 per share. This marked an increase of more than $10 million when compared to the $25.5 million, or $1.01 per share, from the year-ago quarter.

Restoration Hardware’s earnings in an adjusted basis when taking into account asset impairment and recall accrual, among other items, led to earnings of $1.85 per share. Revenue was strong at $598.4 million, topping the $557.4 million from the year-ago quarter.

Analysts were calling for the business to bring in adjusted earnings of $1.53 per share, as well as revenue of $584 million, according to data compiled by FactSet. Restoration Hardware revealed that for its fiscal year, it now sees its earnings in the range of $8.76 to $9.27 per share on an adjusted basis, while revenue will be between $2.64 billion and $2.66 billion.

Wall Street predicts that the business will amass second-quarter earnings of $2.17 per share on sales of $660 million.

RH stock is up roughly 22.3% after the bell Wednesday afternoon following the company’s quarterly earnings results, which impressed. Shares had been up about 1.9% during regular trading hours today.

The post appeared first on InvestorPlace.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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