Home Depot Profit Tops Estimates as Customer Spend More
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Home Depot Inc., the largest U.S. home-improvement retailer, reported second-quarter profit that topped analysts’ estimates and raised its forecast for profit this year as customers spent more on remodeling projects.
Net income increased 12 percent to $1.53 billion, or $1.01 a share, from $1.36 billion, or 86 cents, a year earlier, the Atlanta-based company said today in a statement. Analysts projected 97 cents, the average of 25 estimates in a Bloomberg survey.