Better Than Expected First Quarter Gives Home Depot A Sunnier Outlook

May 19, 2015 1:35 PM

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Home Depot didn’t just surprise Wall Street with its first quarter earnings results: it surprised itself, too. In posting higher-than-expected top and bottom line results Tuesday morning, the home improvement giant also said that its first quarter performance was better than even it expected and therefore good enough to raise its full-year 2015 outlook. As a result of the earnings beat and outlook raise, shares of Home Depot are up in early Tuesday trading.

Home Depot reported Tuesday that it recorded $20.9 billion in first quarter sales, a figure that marks a 6.1% increase over sales reported this time last year and which beats the analyst consensus of $20.8 billion. Net income for the quarter grew 14.5% to $1.6 billion, resulting in earnings of $1.21...

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