If you’re looking for another microcosm of the entire economy, check out Home Depot earnings.
- The company reported weak revenue, due to a weather induced “soft” Spring season (AKA the housing market still sucks).
- But earnings still surpassed expectations, as the company took the hatchet to expenses.
- And the company remains optimistic about the economy, without providing much justifications.
Here’s a look at the profit and loss statement. You can see how sales declined year over year, but how gutting spending across the board let to the income boost.