Home Depot Profit Tops Estimates After Shoppers Spend More
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Home Depot Inc., the world’s largest home-improvement retailer, reported a third-quarter profit gain that topped analysts’ estimates as shoppers spent more per trip.
Net income rose 12 percent to $934 million, or 60 cents a share, in the quarter that ended Oct. 30 from $834 million, or 51 cents, a year earlier, Atlanta-based Home Depot said today in a statement. Analysts projected 59 cents, the average of 22 estimates in a Bloomberg survey.