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.
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.