Excluding some items, profit was $1.71 a share, matching analysts’ estimates.
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Home Depot’s net income rose to $2.23-billion (U.S.), or $1.73 per share, in the quarter ended August. 2 from $2.05-billion, or $1.52 per share, a year earlier.
Wall Street analysts were expecting $1.71 a share on $24.9 billion in sales, according to Thomson Reuters I/B/E/S.
The company’s first-quarter results included $92 million in pretax breach-related costs. Eleven analysts surveyed by Zacks expected $24.66 billion. Not to mention, the stock has gone virtually nowhere in the past six months, compared to 7% gains for its larger rival.
The company’s same-store sales rose 4.2 percent in the second quarter, beating the average analyst estimate of 3.5 percent, according to research firm Consensus Metrix.
Whether the company affirms or changes its full-year sales and earnings outlooks will be of keen interest to investors, because although the economy continued to grow in the second quarter at a pace that was below the company’s full-year forecasts, housing data remained strong, just like in the first quarter.
Home Depot Inc (High def.N), with the No.a home remodeling merchant, indicated a better-than-expected augment in magazine same-store sales, given higher home improvement recreation in the United States and also a recuperation in the housing market. Earnings per share were projected to grow 11 to 12 percent from fiscal 2014 to $5.24 to $5.27. Although shares are up more some 5% on the year, it has grossly underperformed the 14% stock gains of Home Depot.
Wall Street looks for earnings of $5.27 per share for the year on revenues of $87.02 billion.
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Home Depot now expects fiscal 2015 sales will rise about 5.2 percent to 6 percent. Home Depot’s imparts, which actually struck track up on Monday, roze wijn little in premarket day trading.
