Home Depot's stock rises toward a record after big profit, sales beats

Shares of Home Depot Inc. HD, -0.42% roseate 0.7% into grounds territory successful premarket trading Tuesday, aft the location betterment retailer reported fiscal third-quarter profit, nett income and same-store income that roseate supra expectations. Net income for the 4th to Oct. 31 accrued to $4.13 billion, oregon $3.92 a share, from $3.43 billion, oregon $3.18 a share, successful the year-ago period, to bushed the FactSet statement for net per stock of $3.42 by a wide margin. Net income roseate 9.8% to $36.82 billion, good supra the FactSet statement of $34.95 billion. Same-store income grew 6.1%, to bushed the FactSet statement of 2.4% growth, portion U.S. same-store income roseate 5.5% to apical expectations of a 2.3% rise. Cost of income roseate 9.9% to $24.26 billion, arsenic gross borderline declined to 34.1% from 34.2%. "As evidenced by our beardown show successful the quarter, our squad continues to bash an outstanding occupation of operating with flexibility and agility," said Chief Executive Craig Menear. "Ultimately, this is what has allowed america to respond to the elevated location betterment request that has persisted." The stock, which was connected way to unfastened supra the Nov. 12 grounds adjacent of $372.63, has tally up 39.7% twelvemonth to day done Monday, portion the Dow Jones Industrial Average DJIA, -0.04% has precocious 17.9%.