Investing.com - The largest U.S. home improvement retailer Home Depot reported better-than-expected third quarter earnings on the back of strong revenue figures, it announced early Tuesday.
Earlier in the day, in its third quarter earnings report, Home Depot said earnings per share came in at USD0.95, compared to expectations for earnings of USD0.90 per share.
The company’s third quarter revenue totaled USD19.47 billion, above expectations for revenue of USD19.18 billion.
Global comparable store sales increased 7.4% in the June-to-September period, while U.S. comp sales rose 8.2%.
"Our third quarter results reflect the continuing improvement in the housing market and our solid operational performance," said Frank Blake, chairman & CEO.
Home Depot now sees full year earnings per share at USD3.72 compared to a previous estimate of USD3.60 per share.
Following the release of the report, Home Depot shares rallied 3% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was mildly lower. The Dow Jones Industrial Average futures pointed to a flat open, S&P 500 futures lost 0.1%, while the Nasdaq 100 futures indicated a decline of 0.1% at the open.