Home Depot Net Income, Sales Higher in Q2

Atlanta, GA, Aug. 17, 2010–Home Depot reported second quarter net income of $1.19 billion, or $0.72 a share, up 6.8% from $1.12 billion, or $0.66 per share a year ago.

Net sales rose 1.8% to $19.41 billion from $19.07 billion.

Analysts estimated income of $0.71 on revenue of $19.62 billion.

Comparable-store sales for the quarter rose 1.7%. For fiscal 2011, Home Depot expects to earn $1.90 a share from continuing operations as sales rise 2.6%.