Home Depot earnings rise, beat estimates

Home Depot earnings rise, beat estimates

Home Depot (HD) Tuesday reported an increase in profit and revenue in the third quarter that beat Wall Street estimates.

The home improvement retailer also affirmed its guidance for the year of 4.8% sales growth in 2014.

Home Depot reported net income rose 14% to $1.5 billion in the third quarter, or $1.15 a share. That compares with $1.4 billion, or 95 cents a share, in the same period a year ago.

Revenue rose 5.4% to $20.52 from a year ago.

Wall Street analysts were expecting earnings of $1.13 a share and revenue of $20.46 billion, according to FactSet.

“During the quarter we saw strong performance across all geographies led by growth in transactions and continued strength in the core of the store,” said CEO Craig Menear.

Shares of Home Depot dipped slightly in pre-market trading, dropping 0.5% to $97.55.

Source: http://www.usatoday.com/story/money/markets/2014/11/18/home-depot-earnings/19188229/

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