Williams-Sonoma Shares Rally After Earnings Beat

Williams-Sonoma Inc. shares rallied in the extended session Wednesday after the upscale housewares retailer topped Wall Street earnings estimates for the quarter. Williams-Sonoma shares surged 6% to $46 after hours. The company reported second-quarter net income of $52.9 million, or 61 cents a share, compared to $51.8 million, or 58 cents a share, in the year-ago period. Revenue rose to $1.2 billion from $1.16 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 59 cents a share on revenue of $1.2 billion. For the third quarter, Williams-Sonoma estimates earnings of 80 cents to 87 cents a share on revenue of $1.27 billion to $1.31 billion. Analysts expect 82 cents a share on revenue of $1.28 billion.