Home Depot Beats Q3 Estimates
The world’s largest home improvement chain, Home Depot (HD), reported net earnings for Q3 of $1.4 billion, or 95 cents a share, up from $947 million, or 63 cents a share, a year earlier. Wall Street analysts had expected the chain to earn 90 cents a share for third quarter 2013. Revenue increased to $19.47 billion in third quarter 2013 from $18.13 billion for the third quarter a year ago — also exceeded analysts’ expectations of $19.18 billion for the latest Q3. The U.S. housing market recovery has been identified as the key driver of this outperformance. Home Depot investors look to see this recovery trend in housing sustained into the next year.