Shares of Home Depot Inc. undefined shot up 4.6% in premarket trading Tuesday, after the home improvement retailer reported fiscal first-quarter earnings...
Shares of Home Depot Inc. HD, -0.01% shot up 4.6% in premarket trading Tuesday, after the home improvement retailer reported fiscal first-quarter earnings that rose above expectations, surprise growth in same-store sales and raised its full-year outlook. Net income for the quarter to May 1 rose to $4.23 billion, or $4.09 a share, from $4.15 billion, or $3.86 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share the FactSet consensus of $3.69. Sales grew 3.
71 billion, while same-store sales increased 2.2% compared with expectations of a 2.9% decline."Fiscal 2022 is off to a strong start as we delivered the highest first quarter sales in company history," said Chief Executive Ted Decker.
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Home Depot is about to report earnings. Here's what to expectShares of the company have fallen 7% over the last year, dragging its market value down to $306 billion.
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