Home Depot Profits Up 14 Percent
Home Depot Profits Up 14 Percent
Home Depot released its second-quarter results Tuesday, posting a 14 percent hike in earnings thanks to the success of moves to improve customer service and rework product lines to better suit the needs of consumers with the nation's housing market still struggling. Unlike its major rival Lowe's, Home Depot also improved its outlook for full year earnings as sales at stores open at least a year rose 4.3 percent.
For the three months ended July 31st, Home Depot reported earnings of $1.36 billion, or 86 cents a share, an improvement from its 2Q 2010 earnings of $1.19 billion, or 72 cents a share. The disproportionate decline in per share earnings was because the number of outstanding shares fell 5.2 percent to 1.58 billion during that time. The world's largest home improvement retailer, Home Depot's sales rose 4.2 percent during the quarter to $20.23 billion.
The results topped Wall Street expectations, as analysts taking part in a recent FactSet survey had projected net income of 83 cents a share on revenue of $19.97 billion. The company also raised its outlook for full-year earnings from a previously announced forecast of $2.24 a share to $2.34 a share, and said it expects sales to increase by 2.5 percent for the full year.
Home Depot released its second-quarter results Tuesday, posting a 14 percent hike in earnings thanks to the success of moves to improve customer service and rework product lines to better suit the needs of consumers with the nation's housing market still struggling. Unlike its major rival Lowe's, Home Depot also improved its outlook for full year earnings as sales at stores open at least a year rose 4.3 percent.
For the three months ended July 31st, Home Depot reported earnings of $1.36 billion, or 86 cents a share, an improvement from its 2Q 2010 earnings of $1.19 billion, or 72 cents a share. The disproportionate decline in per share earnings was because the number of outstanding shares fell 5.2 percent to 1.58 billion during that time. The world's largest home improvement retailer, Home Depot's sales rose 4.2 percent during the quarter to $20.23 billion.
The results topped Wall Street expectations, as analysts taking part in a recent FactSet survey had projected net income of 83 cents a share on revenue of $19.97 billion. The company also raised its outlook for full-year earnings from a previously announced forecast of $2.24 a share to $2.34 a share, and said it expects sales to increase by 2.5 percent for the full year.
Comments
Top Stories
Latest DT's
-
1 month ago by Geno -
1 month ago by dallaseste
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by dallaseste
Top Authors
Subscribe
Games
Alias
3 Foot Ninja 2
ALIAS 2
Air Dodge
Battle Tanks
Bomber Bob
Cable Capers
Gem Mania
Hacker
Hostile Skies
Mission Mars
Bowling
Samurai Warrior
The Pharoh's Tomb
Monkey Lander
Muay Thai
Action
Donkey Kong Banana Barrage
501 Dart Challenge
Rooftop Skater
Zelda
Donkey Kong
Xtreme Pinball
Tetris
Connect 4
Battleships
Frogger
Penguin Push
Online Video Poker
Spank The Monkey
Mob Pay Back
Dealer
Yeti Sports Seal Bounce
Hold Your Drink Steady
Solitaire
Canyon Glider
3D Sudoku
Metal Slug Rampage
Street Fighter II
Flashman
Disc Golf
Table Tennis
Ninja Air Combat
Celebrity Hitman Terrorist Alert
Spider Solitaire
Tubin
Presidential Knockout
Global Player
Ma Balls
Baseball
Beckham Fit
0 Comments
Click here to sign up now.