News

Home Depot fiscal results a bright light in retail segment

May 19, 2017

Not every retailer is being battered and scrambling to spur more sales and customer base. Home Depot is beating analysts' expectations when it comes to profit and income.

The home improvement giant posted a first quarter profit of $2.01 billion and revenue of $23.89 billion, which led to a net income of $1.67  per share basis — a healthy result given analysts expected $1.61 per share, according to a New York Times report.

Shareholders are clearly happy as CNBC reported the stock jumped 2.5 percent following the financial report.

"We were pleased with our results as they reflected broad-based growth across our interconnected platform and all geographies," Craig Menear, Home Depot CEO, stated in a release, according to CNBC.