RTTNews | Dec 9, 2021 11:19AM EST

11:19 Thursday, December 9, 2021 (RTTNews.com) - California-based home furnishing company, RH (RH), is trading 12% higher in the Thursday market after the company announced an upbeat net income in the third quarter. The earnings per share also trumped Street estimates. Based on its performance in the quarter, the company has also improved its full year guidance. Net income reported by RH was $184 million or $5.88 per share, up from $46 million or $1.64 per share in the last year. On an adjusted basis, the net income was $209 million or $7.03 earnings per share, up from $166 million or $6.20 per share last year. On average, 18 analysts polled by Thomson Reuters expected the earnings to be $6.63 per share for the quarter. For the full year, the company expects the revenue to grow 32% to 33% year-over-year. Previously, RH projected a revenue growth of 31% to 33%. The stock is currently trading at $638.00, up $61.04 or 10.58% since the previous close at $576.96. The stock opened at $625.00 in the morning. In the 52-week period, the shares have ranged between $411.88 and $744.56.

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