Investing.com - Home Depot, the world's largest home improvement retailer reported third quarter earnings that beat analysts' expectations on Tuesday and raised its sales outlook for the full year.
Shares of the company (NYSE:HD) were higher in premarket trade following the report.
The firm reported earnings per share of $2.51 on revenue of $26.3 billion compared with net earnings of $2.2 billion, or $1.84 per diluted share, in the same period a year earlier. Diluted earnings per share increased 36.4% from the same period in the prior year, the company said.
Analysts polled by Investing.com forecast EPS of $2.27 on revenue of $26.25 billion.
Based on its year-to-date performance, Home Depot updated its fiscal 2018 guidance, saying it now expects sales growth of approximately 7.2%.
For the year, Home Depot shares are down 5.33%, under-performing the S&P 500 which is up 1.58% year to date.
Home Depot follows other major Services sector earnings this month
On October 25, Amazon.com reported third quarter EPS of $5.75 on revenue of $56.58B, compared to forecasts of EPS of $3.08 on revenue of $57.11B.
Alibaba earnings missed analyst's expectations on November 2, with second quarter EPS of $1.4 on revenue of $85.15B. Investing.com analysts expected EPS of $6.85 on revenue of $52,109M
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