Home Depot Reports Higher Earnings, Sales

Atlanta, GA, May 15, 2012 -- Home Depot reported a 27.5% increase in first-quarter profit.

Home Depot reported net income of $1.04 billion, or $0.68 per share, for the period ended April 29. That's up from $812 million, or $0.50 per share, a year ago.

Revenue rose 6% to $17.81 billion, just shy of Wall Street's estimate of $17.89 billion.

The Atlanta company now expects 2012 earnings of $2.90 per share, with revenue up about 4.6%. It earlier anticipated earnings of about $2.79 per share and a 4% revenue increase.


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