Earnings

Home Depot (HD) earnings Q1 2020

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Home Depot shares fell nearly 3% Tuesday after the company reported first-quarter sales rose sharply, but profits were weighed down by extra costs related to the coronavirus pandemic.

For the first quarter that ended May 3, Home Depot reported that net income fell 10.7% to $2.25 billion, or $2.08 per share, compared to $2.51 billion, or $2.27 per share, a year earlier. Analysts surveyed by Refinitiv expected the company to earn $2.27 per share.

Revenue for the quarter rose 7.1% to $28.26 billion from $26.38 billion a year earlier, topping analyst expectations of $27.54 billion. Home Depot’s same-store sales grew 6.4%, beating expectations of 4.4%, based on StreetAccount…



Source cnbc.com

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