Home Depot Reports Higher Earning, Sales

Atlanta, GA, Nov. 15, 2011 -- The Home Depot reported third quarter net earnings of $934 million, or $0.60 per share, compared with net earnings of $834 million, or $0.51 per diluted share, in the same period last year.

Sales for the third quarter totaled $17.3 billion, a 4.4% increase from the third quarter of fiscal 2010.

Comparable store sales for the third quarter of fiscal 2011 were up 4.2%, and comparable sales for U.S. stores were positive 3.8%.

"Our third quarter was driven by strength in our core categories and storm-related sales as well as strong operating performance," said CEO Frank Blake.

The company also declared a 16% increase in its quarterly dividend to $0.29 per share.