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Strong quarter for Home Depot

The world's largest home improvement retailer reports $2.1 billion in earnings
The company broke its second-quarter earnings record.

Home Depot's net earnings crossed the $2 billion mark in the second quarter, as spring business for the world's largest home improvement retailer rebounded along with core departments.

Net earnings of $2.050 billion were up 14.2% from the same quarter last year. Net sales rose 5.7% to $23.811 billion. Comparable store sales were positive 5.8% -- and positive 6.4% for U.S. stores.

"In the second quarter, our spring seasonal business rebounded, and we saw strong performance in the core of the store and across all of our geographies," said Frank Blake, chairman and CEO.

At the end of the quarter, the Home Depot store-count tally stood at 2,264.

With the strong numbers, the company raised its earnings-per-share guidance for the full year. It now looks for earnings per share to be up about 20.2% to $4.52. The Home Depot also maintained its previously released sales guidance for the fiscal year of 4.8% growth.  

 


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