Home Depot Earnings Beat, Outlook Recovers as Sales Climb

TheStreet
Shares of Home Depot moved higher in early Tuesday trading after the home improvement retailer posted better than expected quarterly results. Profits came in at $1.52 a share. That's better than forecasts and more than a quarter better than the same period a year ago. Revenue rose almost 6 percent to nearly $24 billion, also better than expectations. Comparable-store-sales at shops open at least a year in the U.S. rose more than 6 percent, and all regions also did well. CEO Frank Blake said, "In the second quarter, our spring seasonal business rebounded, and we saw strong performance in the core of the store and across all of our geographies." He also believes that the rest of the year looks promising and is revising the full year earnings guidance up 10 cents to $4.52 a share. TheStreet's Julia Sun reports from New York.
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