Stock Alert: RH Jumps To New 52-week High After Q2 Results Beat View

(RTTNews) - Shares of RH (RH) are surging almost 25 percent or $80.22 in Thursday's morning trade at $401.30, after touching a new 52-week high of $405.55 as the luxury furniture retailer's second-quarter earnings results beat analysts' estimates.

RH, the parent company of Restoration Hardware, said Wednesday that its second-quarter net income rose to $98.4 million or $3.71 per share from $63.8 million or $2.86 per share last year. Adjusted earnings were $4.90 per share, compared to $3.20 last year. Revenues rose to $709.3 million from $706.5 million last year.

Analysts polled by Thomson Reuters had a consensus earnings estimate of $3.41 per share on revenues of $707.14 million. Analysts' estimates typically exclude special items.

RH has traded in a range of $73.14 to $405.55 in the past 52 weeks.