Home Depot does better than expected |
News - Financial News | |||
Written by Hugh McManus | |||
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Home improvement supply giant Home Depot [NYSE:HD] reported higher than expected earnings on Tuesday. The company still expects a decline in profits of about 24 percent this year, reflecting the softening of the US housing market. Home Depot reported earnings of $1.2 billion or 71 cents a share, a 24 percent decline from a year earlier. The Street had expected earnings of 61 cents. The company also reported $21 billion in sales, greater than the $20.58 expected by analysts.
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