November 13, 2018
Homeowners Are Spending, Home Depot is Winning
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Home Depot is breezing past all expectations for the third quarter, including comparable-store sales, with consumers plowing money into homes even as the housing market appears to cool off.
The Atlanta company on Tuesday reported income of $2.87 billion, or $2.51 per share, far exceeding per-share projections for $2.27, according to a survey of industry analysts by Zacks Investment Research.
Revenue jumped 5.1 percent to $26.3 billion.
Home Depot expects full-year earnings to be $9.75 per share.
Shares of The Home Depot Inc. rose more than 2 percent before the opening bell.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HD at https://www.zacks.com/ap/HD
