Home Depot Profit Beats Analysts’ Estimates on Warm Weather
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Home Depot Inc., the world’s largest home-improvement retailer, reported fourth-quarter profit that exceeded analysts’ estimates as warmer weather helped spur an increase in residential spending.
Net income in the quarter ended Jan. 29 increased 32 percent to $774 million, or 50 cents a share, from $587 million, or 36 cents, a year earlier, Atlanta-based Home Depot said today in a statement. Analysts projected 42 cents, the average of 24 estimates compiled by Bloomberg.