UPDATE: Home Depot Posts Upbeat Q2 Profit, Lifts Full Year Forecast

Home Depot HD reported a 12% rise in its fiscal second-quarter earnings. It also lifted its full-year earnings forecast by $0.05 per share to $2.95 per share. Home Depot's quarterly profit surged to $1.53 billion, or $1.01 per share, from $1.36 billion, or $0.86 per share, in the year-ago period. Its sales rose 1.7% to $20.57 billion. However, analysts were expecting earnings of $0.97 per share on revenue of $20.74 billion. Home Depot's gross margin rose to 34.2% from 34%, while same-store sales gained 2.1%. Home Depot shares gained 2.52% to $54.15 in pre-market trading.