Williams-Sonoma's stock rallies on earnings beat, outlook

Williams-Sonoma Inc. shares surged in the extended session Wednesday after the high-end home furnishings retailer's results topped Wall Street estimates and the company raised its outlook. Williams-Sonoma shares jumped 15% after hours, following a 4% gain to close the regular session at $49.18. The company reported first-quarter net income of $45.2 million, or 54 cents a share, compared with $39.6 million, or 45 cents a share, in the year-ago period. Adjusted earnings were 67 cents a share. Revenue rose to $1.2 billion from $1.11 billion in the year-ago period. Analysts surveyed by FactSet had estimated 58 cents a share on revenue of $1.16 billion. For the year, Williams-Sonoma raised its outlook to estimated earnings of $4.15 to $4.25 a share on revenue of $5.5 billion to $5.66 billion. Analysts expect earnings of $4.18 a share on revenue of $5.57 billion.