Despite the pandemic, Home Depot posted promising figures
One of the largest improvement retailers- Home Depot
released its Q3 2020 earnings ahead of the estimates.
Home Depot reported a net income of $3.43 billion, which
marks a 24% increase from last year’s figures. The market was looking for $3.06
The company’s EPS was of $3.18, with revenues of $33.54
billion. The numbers topped the EPS of $3.06 and $32.04 billion, respectively
forecasted. Given the pandemic, people preferred online shopping, which
translated into a rise in digital sales of 80% from Q3 2019.
In the future, Home
Depot is considering expanding in the building utility and maintenance sector,
as it is talking to buy back HD Supply Holdings for $8 billion.
Year-to-date, Home Depot stock price gained 28%.
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