UPDATE: Home Depot Posts Upbeat Q4 Profit, Raises Dividend
Home Depot (NYSE: HD) reported a 32% rise in its fiscal fourth-quarter earnings.
Home Depot's quarterly profit surged to $1.02 billion, or $0.68 per share, from $774 million, or $0.50 per share, in the year-ago period. Excluding special items, it earned $0.67 per share.
Its sales climbed 14% to $18.25 billion. However, analysts were expecting earnings of $0.64 per share on revenue of $17.7 billion.
Its gross margin declined to 34.9% from 35%. It also lifted its quarterly dividend by 34% to $0.39 per share.
For FY13, Home Depot projects earnings of around $3.37 per share, versus analysts' estimates of $3.49 per share.
Home Depot shares closed at $63.92 yesterday.
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