UPDATE: Lowe's Posts Upbeat Q3 Sales

Lowe's Companies (NYSE: LOW) 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.

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