Investing.com -Home Depot Inc's (NYSE:HD) shares turned higher on Wednesday, regrouping after their puzzling move lower following the company’s release of its second quarter results, which topped expectations.
After closing bell on Tuesday, Home Depot released its second quarter results. The company earned $2.25 per share on revenue of $28.1 billion. The EPS result topped expectations by 4 cents and revenue beat by $300 million.
Other positive results included a 6.3% increase in comparable sales, topping the consensus estimate for a 4.9% gain. Customer transactions rose 2.8% during the quarter, while the average ticket was up 3.6% to $63.05.
Home Depot also increased its expectations. The company is looking for FY 2018 EPS of $7.29 versus the prior forecast of $7.15.
Still, surprisingly shares fell in the aftermath of these results, but they have since turned higher. At last check, Home Depot’s stock was up 1.5%