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Home Depot Profit Tops Estimates as Housing Spurs Sales

Home Depot Inc. posted fourth-quarter profit that topped analysts’ estimates, marking six straight years of meeting or exceeding projections, as the U.S. housing rebound spurs spending on renovations.

Net income in the three months ended Feb. 2 fell 0.8 percent to $1.01 billion, or 73 cents a share, from $1.02 billion, or 68 cents, a year earlier, the Atlanta-based company said today in a statement. The average of 25 analysts’ estimates compiled by Bloomberg was 71 cents. The chain has topped quarterly projections 23 times since mid-2008, while matching estimates once.