Home Depot Q3 profit tops estimates
Atlanta -- An improved housing market boosted Home Depot in its latest quarter, as the home-improvement retailer reported Tuesday that net income for the third quarter rose to $947 million from $934 million in the year-ago period.
Revenue climbed 4% to $18.13 billion, edging Wall Street’s estimated $17.92 billion in revenue. Same-store sales rose 4.3% in the U.S. and 4.2% overall.
"Our third-quarter results were better than we expected and reflected, in part, what we believe is the start of the path toward the healing of the housing market," chairman and CEO Frank Blake said.