Home Depot’s revenue and earnings beat market expectations, according to results the company reported Tuesday, driven by steady demand for home improvement items from professional builders and handymen.
In particular, Home Depot’s net sales climbed 6.5% to $43.79 billion, against estimates of $43.36 billion.
Net income rose to $5.17 billion, or $5.05 per share, for the second quarter ended July 31, from $4.81 billion, or $4.53 per share, in the corresponding period in 2021.
The US home goods chain’s comparable sales rose 5.8% in the second quarter, while analysts had expected a 4.9% increase, according to Refinitiv IBES data.
Source: Capital
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