RTTNews | Mar 24, 2021 05:02PM EDT

17:02 Wednesday, March 24, 2021 (RTTNews.com) - Shares of RH (RH) are gaining over 8% in extended trading session on Wednesday driven by strong earnings results and upbeat guidance.

Net income for the fourth quarter rose to $130.2 million or $4.31 per share from $68.4 million or $3.58 per share last year. Adjusted earnings for the quarter were $5.07 per share, up from $3.72 per share last year.

Fourth-quarter revenues grew to $812.4 million from $665.0 million last year.

Analysts polled by Thomson Reuters estimated earnings of $4.76 per share on revenues of $797.66 million for the quarter.

Looking forward, the company expects first-quarter revenue growth of at least 50%, and full-year 2021 revenues of 15% to 20%. Analysts currently estimate revenues growth of 36.70% and 10.90% for the first quarter and full year 2020, respectively.

RH closed Wednesday's trading at $485.11, down $23.39 or 4.60%, on the NYSE. The stock, however, gained $40.89 or 8.43%, in the after-hours trading.

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