Home Depot 2Q Results Better Than Expected
Atlanta, GA, Aug. 20, 2013 -- Home Depot raised its outlook for the fiscal year as it reported second quarter results.
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The results gave more evidence that the housing market is on an upswing after years of weakness.
Net earnings rose to $1.80 billion, or $1.24 a share, from $1.53 billion, or $1.01 a share, a year earlier.
Sales rose 9.5 percent to $22.5 billion.
"The second quarter results exceeded our expectations as our business benefited from a rebound in our seasonal categories, continued strength in the core of the store and the recovering housing market in the U.S.," said CEO Frank Blake.