Restoration Hardware (RH) Stock Surging Today on Earnings Beat

NEW YORK (TheStreet) -- Shares of Restoration Hardware Holding Inc. (RH) are higher by 12.79% to $97.20 at the start of trading on Thursday morning, as the stock gains from the company's 2014 third quarter financial results, which came in higher than analysts had forecast.

For the most recent quarter the home furnishings company said its adjusted net income was $20.3 million, or 49 cents per diluted share, compared to $13 million, or 32 cents per diluted share for the 2013 third quarter.

Analysts polled by Thomson Reuters were expecting adjusted earnings of 48 cents per share for the quarter. Must Read: Warren Buffett's 25 Favorite Stocks

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Net revenues for the 2014 third quarter increased by 22% to $484.7 million, while analysts had forecast revenue of $481.91 million for the quarter.

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Restoration Hardware (RH) Stock Surging Today on Earnings Beat