Home Depot beats Street 4Q forecasts

Home Depot beats Street 4Q forecasts

FILE – In this Feb. 23, 2015, file photo, Prince Addy of Manassas, Va., straightens up the shelves of roofing products at the Home Depot in Falls Church, Va. Home Depot a reports financial results Tuesday, Feb. 20, 2018. (AP Photo/Susan Walsh…

ATLANTA (AP) — The Home Depot Inc. on Tuesday reported fiscal fourth-quarter net income of $1.78 billion.

On a per-share basis, the Atlanta-based company said it had profit of $1.52. Earnings, adjusted for pretax expenses, were $1.69 per share.

The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.62 per share.

The home-improvement retailer posted revenue of $23.88 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $23.66 billion.

Home Depot shares have fallen slightly more than 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 2 percent. The stock has climbed 31 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HD at https://www.zacks.com/ap/HD

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