Home Depot Raises Annual Forecast as Profit Beats Estimates
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Home Depot Inc., the largest U.S. home improvement retailer, raised its full-year profit forecast after second-quarter profit exceeded analysts’ estimates, spurred by increased traffic and spending by customers.
Net income advanced 14 percent to $1.36 billion, or 86 cents a share, in the quarter ended July 31, from $1.19 billion, or 72 cents, a year earlier, the Atlanta-based company said today in a statement. Analysts projected 82 cents, the average of 21 estimates in a Bloomberg survey.