Home Depot 3Q net income edges up 1.4 pct, helped by housing market

ATLANTA – A boost from the gradually recovering housing market helped Home Depot’s net income edge up in its fiscal third quarter.

The world’s biggest home-improvement retailer says that its net income rose to $947 million, or 63 cents per share for quarter that ended Oct. 28. That’s up from $934 billion, or 60 cents per share, a year earlier.

Excluding a charge for closing some stores in China, Home Depot earned 74 cents per share. That topped analysts’ expectations for earnings of 70 cents per share.

Revenue rose more than 4 per cent to $18.13 billion. Wall Street expected $17.92 billion.

Home Depot, based in Atlanta, runs more than 2,200 stores in the U.S. and around the world. Its smaller rival Lowe’s Cos. reports its earnings Monday.

News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Associated Press

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day.

Related Articles