ATLANTA (AP) – The Home Depot Inc. (HD) on Tuesday reported fiscal first-quarter profit of $1.8 billion.
On a per-share basis, the Atlanta-based company said it had net income of $1.44.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.
The home-improvement retailer posted revenue of $22.76 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $22.32 billion.
Home Depot shares have increased slightly more than 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 1 percent. The stock has climbed 21 percent in the last 12 months.