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Home Depot Inc. (NYSE: HD) released its latest financial results before the opening bell in the US on Tuesday, beating analyst estimates for the third quarter.
The US retailer reported revenue of $37.71 billion (down by 3% year-over-year) for Q3 vs. $37.591 billion expected.
Earnings per share (EPS) reported at $3.81 per share (down by 10.14% year-over-year), above $3.755 per share estimate.
“Our quarterly performance was in line with our expectations,” Ted Decker, CEO of Home Depot said in a press release to investors.
“Similar to the second quarter, we saw continued customer engagement with smaller projects, and experienced pressure in certain big-ticket, discretionary categories. We remain very excited about our strategic initiatives and are committed to investing in the business to deliver the best interconnected shopping experience, capture wallet share with the Pro, and grow our store footprint. In addition, our associates did an outstanding job delivering value and service for our customers throughout the quarter and I would like to thank them for their dedication and hard work,” Decker added.
Shares of Home Depot rose by over 6% on Tuesday after the latest earnings results.
The stock was trading at $307.06 a share – the highest level since 25/9/2023.
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Home Depot Inc. is the 26th largest company in the world with a market cap of $307 billion, according to CompaniesMarketCap.
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Sources: Home Depot Inc., TradingView, MarketWatch, CompaniesMarketCap, Wikipedia, Benzinga, Stock Analysis
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