ATLANTA — 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 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased 2 per cent. The stock has climbed 31 per cent in the last 12 months.