UPDATE: Lowe's Posts Upbeat Q4 Profit
Lowe's Companies (NYSE: LOW) reported an 11% drop in its fiscal-fourth-quarter net income.
Lowe's quarterly earnings declined to $288 million, from $322 million, in the year-ago period. Its earnings per share came in at $0.26 in both quarters.
Its revenue dropped to $11.05 billion from $11.63 billion. However, analysts were expecting earnings of $0.23 per share on revenue of $10.85 billion.
Lowe's shares closed at $37.67 on Friday.
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