RH (RH) had an interesting Thursday evening in the markets. The luxury home furnishings retailer posted earnings that technically missed expectations, but investors decided to focus on the bigger picture instead.

The Numbers: RH reported quarterly earnings of $1.71 per share, missing the analyst consensus of $2.16 by about 21%. That's not exactly a rounding error. But here's the thing: revenue came in at $883.81 million, edging past the Street estimate of $883.69 million. Sometimes it's the small victories that count.

CEO Gary Friedman put a characteristically bold spin on the results. "We continued to generate industry-leading growth with revenue increasing 9% in the third quarter, and up 18% on a two-year basis, demonstrating the disruptive nature of our brand despite the worst housing market in almost 50 years and the polarizing impact of tariffs," he said in a letter to shareholders.

Looking Ahead: The company's fourth-quarter guidance suggests some caution ahead. RH expects revenue between $869.27 million and $877.4 million, falling short of the $896.97 million analyst estimate.

Market Reaction: Despite the earnings miss and soft guidance, RH shares jumped 9.58% to $168 in after-hours trading. Apparently, investors are willing to look past near-term headwinds and bet on the company's longer-term growth story.