In a Nov. 14, 2011, file photo, a truck pulls out of the parking lot at a Home Depot store in Oklahoma City.ATLANTA – Home Depot’s fiscal first-quarter net income climbed 12 percent as a key sales metric improved despite a slow start to the spring selling season due to bad weather.
But both its adjusted earnings and revenue came in short of Wall Street’s expectations.
Nonetheless, the No. 1 home improvement retailer raised its full-year earnings forecast on Tuesday.
Home Depot Inc. earned $1.38 billion, or $1 per share, for the three months ended May 4. That compares with $1.23 billion, or 83 cents per share, a year earlier.
The latest quarter’s results included a benefit of 4 cents per share related to the sale of part of its equity ownership in HD Supply Holdings Inc.