UPDATE: Lowe's Posts Upbeat Q1 Profit

Lowe's Cos Inc

reported a higher-than-expected first-quarter profit. Lowe's quarterly net earnings climbed to $527 million, or $0.43 per share versus $461 million, or $0.34 per share, in the year-ago period. Excluding items, the company earned $0.44 per share, versus analysts' estimates of $0.42 per share. Its sales climbed 7.9% to $13.15 billion, versus analysts' expectations of $12.99 billion. Lowe's shares closed at $28.48 on Friday.