November 13, 2018 / 11:11 AM / in a month

Home Depot comparable-store sales top estimates

Nov 13 (Reuters) - Home Depot Inc topped Wall Street estimates for quarterly comparable-store sales on Tuesday, as consumers faced with a shaky U.S. housing market spent more on average at the country’s No.1 home improvement chain.

Sales at U.S. stores open for more than a year rose 5.4 percent during the third quarter ended October, above analysts’ expectations of a 4.38 percent increase, according to IBES data from Refinitiv.

Home Depot’s net earnings rose to $2.87 billion or $2.51 per share, from $2.17 billion or $1.84 per share a year earlier.

Net sales overall rose 5.1 percent to $26.30 billion, edging past analysts’ average estimate of $26.26 billion. (Reporting by Aishwarya Venugopal in Bengaluru)

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