Home Depot Inc Stock Rises, Falls and Recovers After Q3 Earnings Results
Home Depot Inc (NYSE:HD) stock was on a roller coaster ride today following the release of its earnings report for the third quarter of 2017.
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Home Depot Inc reported earnings per share of $1.84 for the third quarter of the year. This is an increase over its earnings per share of $1.60 from the same period of the year prior. It also beat out Wall Street’s earnings per share estimate of $1.82 for the quarter.
Net income for the third quarter of 2017 was $2.20 billion. This is an increase over Home Depot Inc’s net income of $2.00 billion from the same time last year.
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Revenue reported by Home Depot Inc in the third quarter of 2017 was $25.03 billion. This represents a roughly 8% rise over its revenue of $23.15 billion from the same quarter of the previous year. It also comes in above analysts’ revenue estimate of $24.55 billion for the third quarter of the year.
Home Depot Inc updated its outlook during its third quarter of 2017. It says that it now expects earnings per share for the year to be $7.36. This is a plus for HD stock as Wall Street is looking for earnings per share of $7.34 for 2017.
Home Depot Inc also says that it is now expecting sales for the full year of 2017 to be up by 6.3% when compared to the previous year. Sales from the previous year were $94.59 billion. Analysts are expecting sales of $99.97 billion from HD for 2017.
HD stock started out down on Tuesday, then rose and was down again. It is now sitting up 1% as of Tuesday afternoon and is up 24% year-to-date.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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