Home Depot tops 2Q profit and revenue expectations

IndustrialsAssociated Press

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

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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.

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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