In this photo taken Monday, July 13, 2015, Vicente Aguiar loads garage door trims into his pickup truck outside a Home Depot in Hialeah, Fla. Home Depot reports quarterly financial results on Tuesday, Aug. 18, 2015.

In this photo taken Monday, July 13, 2015, Vicente Aguiar loads garage door trims into his pickup truck outside a Home Depot in Hialeah, Fla. Home Depot reports quarterly financial results on Tuesday, Aug. 18, 2015. (AP Photo/Alan Diaz) (The Associated Press)

Home Depot tops 2Q profit and revenue expectations

Industrials Associated Press

The Home Depot Inc. (HD) on Tuesday reported fiscal second-quarter net income of $2.23 billion.

Continue Reading Below

On a per-share basis, the Atlanta-based company said it had net income of $1.73. Earnings, adjusted for non-recurring gains, were $1.71 per share.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.70 per share.

The home-improvement retailer posted revenue of $24.83 billion in the period, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $24.66 billion.

Home Depot expects full-year earnings to be $5.31 to $5.36 per share.

Home Depot shares have risen 14 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 2 percent. The stock has risen 43 percent in the last 12 months.

Continue Reading Below

_____

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

_____

Keywords: Home Depot, Earnings Report, Priority Earnings