Why RH Stock Skyrocketed 50.3% in September

Why RH Stock Skyrocketed 50.3% in September

Shares of RH (NYSE: RH) climbed 50.3% in September, according to data from S&P Global Market Intelligence, after the company formerly known as Restoration Hardware announced better-than-expected fiscal second-quarter results.

The home-furnishings specialist's stock skyrocketed more than 45% on Sept. 7 alone, which was the first trading day after its quarterly report. In that report, RH confirmed that adjusted revenue had climbed 14% year over year to $619 million, and translated to 48% growth in adjusted earnings per share to $0.65. By comparison, RH's latest guidance had called for significantly lower revenue in the range of $595 million to $610 million and adjusted net income per share in the range of $0.38 to $0.43.

IMAGE SOURCE: RH.

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Source: Fool.com