Why Shares of RH Surged Today
Shares of RH (NYSE: RH) jumped on Thursday after the furniture retailer reported its third-quarter results. Despite tariffs on Chinese goods, RH managed to beat expectations for both revenue and earnings. The stock was up 13.4% at market close.
Third-quarter revenue was $677.5 million, up 6.4% year over year and $1 million above the average analyst estimate. Non-GAAP (adjusted) earnings per share came in at $2.79, up from $1.60 in the prior-year period and $0.54 higher than analysts were expecting. A lower tax rate provided a benefit of $0.24 per share.
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Source Fool.com
