Home Depot Profit Beats Analyst Estimate on Cost Cuts
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Home Depot Inc., the largest U.S. home-improvement retailer, posted a 21 percent gain in third-quarter profit that beat analysts’ estimates and increased its earnings forecast for the year after curbing expenses.
Net income increased to $834 million, or 51 cents a share, in the quarter ended Oct. 31 from $689 million, or 41 cents, a year earlier, Atlanta-based Home Depot said today in a statement. Analysts projected 48 cents, the average of 22 estimates compiled by Bloomberg.