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Home Depot earned $1.52 per share in Q2, - Business Insider
Home Depot , the world's largest home improvement chain, reported a 5.7 percent rise in quarterly sales as customers spent more on home repairs after a severe North American winter. Home Depot's net income rose to $2.05 billion, or $1.52 per share, in the second quarter ended Aug. 3 from $1.79 billion, or $1.24 per share, a year earlier. Read More How big retail plans to get America shopping again Revenue increased to $23.81 billion from $22.52 billion a year ago. Wall Street had expected the retailer to deliver second-quarter earnings of $1.45 a share on $23.61 billion in revenue, according to a consensus estimate from Thomson Reuters. The company also raised its 2014 earnings per share guidance to $4.52, from its previous guidance of around $4.42 a share.
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Home Depot reported earnings of $1.52 a share vs. $1.45 estimate
Home Depot's comparable store sales jumped 5.8%, beating expectations for 4.4% growth. This led to earnings of $1.52 per share in Q2, beating expectations for $1.44. "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 CEO Frank Blake .
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