Home Depot posts strong profit, revenue

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Home Depot is reporting better than expected profit and revenue for the first quarter, though bad weather early in the year and an extra week in the previous fiscal year dampened the home improvement retailer’s comparable store sales

Those sales, watched closely by industry analysts, rose 2.5%, short of the 4.2% they were expecting, according to a survey by Zacks Investment Research.

The Home Depot Inc. on Tuesday reported quarterly profit of $2.51 billion, or $2.27. That’s better than the per share earnings of $2.16 that Wall Street had projected, according to Zacks.

Revenue, at $26.38 billion, also edged out expectations.

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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HD at https://www.zacks.com/ap/HD



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