Home Depot Beats Expectations, Raises Estimates

Atlanta, GA, Feb. 22, 2011 -- Home Depot reported fourth-quarter net income rose 72% to $587 million, or $0.36 per share as more people started on home improvement projects.

Revenue rose 4% to $15.13 billion, ahead of analyst expectations of $14.81 billion.

Revenue in stores open at least a year rose 3.9%.

For the year, net income rose 25% and revenue increased 2.8% to $68 billion.

Home Depot increased its outlook for this year. It expects net income to rise 9.5% to $2.20 per share, up from a 7% to 9% increase.