UPDATE: Home Depot Q4 Net Income Rises 32%

Home Depot Inc HD posted a 32% surge in its fiscal fourth-quarter net income. Its same-store sales climbed 5.7%. Home Depot's quarterly earnings rose to $774 million, or $0.50 per share, from $587 million, or $0.36 per share, in the year-ago quarter. Its sales surged to $16.01 billion from $15.13 billion. However, analysts were expecting a profit of $0.42 per share on sales of $15.5 billion. Home Depot shares gained 1.01% to $47.18 in pre-market trading.