Home Depot tops earnings forecast

The Home Depot reported better-than-expected third-quarter earnings Tuesday on strong sales, but revised its sales outlook lower for the remainder of the fiscal year.

The home improvement retailer reported earnings of $834 million, or 51 cents a share, for the three months ended Oct. 31, up from $689 million, or 41 cents per share, a year earlier.

0Email Print CommentExpectations for the company were for earnings per share of 48 cents, according to analysts surveyed by Thomson Reuters.

"The takeaway is that the home improvement market seems to have stabilized," said Michael Lasser, an analyst at Barclays Capital. "The other big takeaway is that they are doing a great job of managing their (profit) margin."

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- Posted: 2010-11-16 09:19:31

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