Home Depot's Revenue Was A Bit Light, But Overall It's Looking Like A Good Year

home depot

Photo: Joe Raedle/Getty Images

ATLANTA (AP) — Better sales in the U.S. and healthy demand for core products helped Home Depot’s net income rise 13 per cent in its fiscal second quarter.The world’s biggest home-improvement retailer also boosted its 2012 earnings outlook Tuesday, citing its performance so far this year.

For the quarter that ended July 29, Home Depot Inc. earned $1.53 billion, or $1.01 per share. A year earlier it earned $1.36 billion, or 87 cents per share.

The latest results topped the 97 cents per share analysts expected.

Revenue climbed to $20.57 billion from $20.23 billion, up 2 per cent. Wall Street expected higher revenue of $20.74 billion.

Home Depot, based in Atlanta, runs more than 2,200 stores in the U.S. and around the world. Its smaller rival Lowe’s Cos. reports its earnings Monday.

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