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Home Depot profit rises 21%, beats Street
Atlanta -- Home Depot reported Tuesday that it recorded higher-than-expected earnings in the third quarter, boosted by tighter cost controls.
The company’s net income rose to $834 million in the quarter ended Oct. 31, compared with net income of $689 million a year earlier.
Sales rose 1.4% to $16.60 billion, slightly above Wall Street expectations of $16.59 billion. Same-store sales at Home Depot's U.S. stores rose 1.5%. It was the chain’s fourth-straight quarterly gain after three years of declines