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Home Depot Q2 earnings beat Wall Street's forecast as customers stick to small projects
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The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational. Home Depot (HD) beat Wall Street's metrics across the board in the second quarter as its customers focused on smaller projects. Revenue grew by nearly 6% in the quarter to $47.9 billion, above the $47.3 billion analysts forecast, per Bloomberg estimates. Adjusted earnings grew 0.2% to $4.79, more than the $4.73 predicted. "We saw broad based demand across the business as customers continued to engage in smaller projects," CFO Richard McPhail said in the release. McPhail and senior executive vice president Ann-Marie Campbell are temporarily leading the company while CEO Ted Decker takes medical leave. Home Depot stock rose 2% in premarket trading following the results. Customers visited Home Depot less frequently during the quarter but spent more when they did. Same-store sales increased 1.7%, more than the roughly 1% expected, and US same-store sales jumped 1.3%, higher than the 0.9% expected. Outdoor categories, including live goods, mulch, patio items, and grills, drove momentum. The company reiterated its 2026 forecast. It still expects total sales to grow between 2.5% to 4.5% for the year, with same-store sales growth expected to be flat to up 2%. Brooke DiPalma is a reporter for Yahoo Finance. Follow her on X at @BrookeDiPalma or email her at bdipalma@yahoofinance.com. Click here for all of the latest retail stock news and events to better inform your investing strategy
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