Home Depot beats 1Q earnings and revenue expectations

Industrials Associated Press

The Home Depot Inc. (HD) on Tuesday reported fiscal first-quarter profit of $1.58 billion.

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The Atlanta-based company said it had net income of $1.21 per share. Earnings, adjusted for pretax gains, came to $1.16 per share.

The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The home-improvement retailer posted revenue of $20.89 billion in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $20.78 billion.

Home Depot expects full-year earnings to be $5.24 to $5.27 per share.

Home Depot shares have risen nearly 9 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 3 percent. The stock has climbed 48 percent in the last 12 months.

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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 http://www.zacks.com/ap/HD

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Keywords: Home Depot, Earnings Report, Priority Earnings