For the quarter ending May 4, the firm announced a net income of $3.4 billion, or $3.45 per share, in contrast to $3.6 billion, or $3.63 per share, from the previous year. Revised earnings per share stood at $3.56.
Revenue increased to $39.86 billion, up from $36.42 billion for the same period last year.
Home Depot’s comparable sales decreased by 0.3% in the most recent fiscal quarter.
Analysts polled by FactSet generally predicted the company’s adjusted earnings to be $3.6 per share, with revenue reaching $39.3 billion. They also anticipated a 0.1% decrease in comparable sales.
Home Depot continues to predict revenue growth of approximately 2.8% for this year, along with comparable sales growth of 1%. The firm anticipates a 3% drop in net income per share and around a 2% decrease in adjusted earnings per share.
source: marketwatch.com
