Home Depot Hits All-Time High as Appliances Drive Sales
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Home Depot Inc. climbed to an all-time high as purchases of big-ticket items like appliances helped second-quarter profit top analysts’ estimates and led the company to raise its annual earnings forecast.
Net income for the largest U.S. home-improvement retailer rose 14 percent to $2.05 billion, or $1.52 a share, in the three months through Aug. 3, from $1.8 billion, or $1.24, a year earlier, the company said today in a statement. The average of 25 analysts’ estimates compiled by Bloomberg was $1.44.