UPDATE: Home Depot Posts 43% Surge In Q3 Profit, Lifts Guidance

Home Depot

reported a 43% gain in its fiscal third-quarter profit and lifted its forecast for the year. Home Depot now expects full-year earnings of $3.72 per share on sales growth of 5.6%. The company had earlier expected earnings of $3.60 per share on sales growth of 4.5%. Home Depot's quarterly profit surged to $1.35 billion, or $0.95 per share, from a year-ago profit of $947 million, or $0.63 per share. Its sales increased 7.4% to $19.47 billion. However, analysts were expecting earnings of $0.90 per share on revenue of $19.18 billion. Home Depot's same-store sales climbed 7.4% in the quarter. Home Depot shares rose 2.71% to $81.83 in pre-market trading.