Home Depot Reports Higher Quarterly Profit

Atlanta, GA, Nov. 13, 2012 -- Home Depot reported better-than-expected third quarter income.
Net income rose to $947 million, or $0.63 per share from $934 million, or $0.60 per share, a year earlier.

"Our third-quarter results were better than we expected and reflected, in part, what we believe is the start of the path toward the healing of the housing market," Chairman and CEO Frank Blake said in a statement on Tuesday.

Sales rose nearly 5% to $18.13 billion. Sales at stores open at least a year increased 4.2% globally, including a 4.3% rise in the U.S.

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