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People wear face masks outside the Home Depot in the Flatiron neighborhood as the city continues with Phase 4 of the reopening following restrictions imposed to slow the spread of the coronavirus on August 8, 2020 in New York City.
Noam Galai | Getty Images
The Home Depot announced on Tuesday that its quarterly sales jumped 23% as consumers stuck in the home during the coronavirus pandemic tackled home improvement projects.
Shares of the company rose 2.6% in pre-market trading.
Here’s what the company reported for the second fiscal quarter compared to what Wall Street expected, based on an analyst survey by Refinitiv:
- EPS: $ 4.02 vs. $ 3.71 expected
- Turnover: 38.05 billion dollars against 34.53 billion dollars expected
The Home Depot reported second quarter net income of $ 4.33 billion, or $ 4.02 per share, up 25% from $ 3.48 billion, or $ 3.17 per share, a year earlier. Analysts polled by Refinitiv had expected earnings per share of $ 3.71.
Net sales rose 23.4% to $ 38.05 billion, beating expectations of $ 34.53 billion. Its same-store sales climbed 25% in the quarter.
This story is developing. Please come back for updates.
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