In this Wednesday, May 18, 2016, photo, an American flag flies over a Home Depot store location, in Bellingham, Mass. Home Depot reports earnings Tuesday, Nov. 15, 2016. (AP Photo/Steven Senne)

In this Wednesday, May 18, 2016, photo, an American flag flies over a Home Depot store location, in Bellingham, Mass. Home Depot reports earnings Tuesday, Nov. 15, 2016. (AP Photo/Steven Senne) (The Associated Press)

Home Depot beats Street 3Q forecasts

Markets Associated Press

The Home Depot Inc. (HD) on Tuesday reported fiscal third-quarter earnings of $1.97 billion.

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The Atlanta-based company said it had profit of $1.60 per share.

The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.

The home-improvement retailer posted revenue of $23.15 billion in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $23.04 billion.

Home Depot shares have fallen 3.5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 6 percent. The stock has increased 3 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 https://www.zacks.com/ap/HD

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Keywords: Home Depot, Earnings Report, Priority Earnings