ATLANTA (AP) – The Home Depot Inc. (HD) on Tuesday reported fiscal third-quarter earnings of $1.97 billion.
The Atlanta-based company said it had profit of $1.60 per share.
The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.
The home-improvement retailer posted revenue of $23.15 billion in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $23.04 billion.
Home Depot shares have fallen 3.5 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 6 percent. The stock has increased 3 percent in the last 12 months.