UPDATE: Lowe's Posts Upbeat Q3 Sales

Lowe's Companies

reported a rise in its third-quarter profit. Lowe's quarterly sales climbed 1.9% to $12.1 billion, beating analysts' estimates of $11.9 billion. Its sales at stores open at least year gained 1.8%. Lowe's quarterly net income increased to $396 million, or $0.35 per share, versus $225 million, or $0.18 per share, in the year-ago period. However, analysts were expecting earnings of $0.35 per share. Lowe's shares closed at $31.98 on Friday.