UPDATE: Williams-Sonoma Reports 62% Increase In Q1 Net Income

Williams-Sonoma Inc WSM reported a 62% rise in its fiscal first-quarter net income. Williams-Sonoma reported a quarterly profit at $31.6 million, or $0.29 per share, versus $19.5 million, or $0.18 per share, in the year-ago period. Its adjusted earnings came in at $0.30 per share. The company's shares outstanding dropped 2.2% to 107.2 million. Williams-Sonoma's revenue surged to $770.8 million from $717.6 million. However, analysts were expecting earnings of $0.28 per share on revenue of $765.8 million. WSM shares gained 0.35% to $43.41 in after-hours trading. Read more from Benzinga's Company news.