The Home Depot reported Q1 revenues of $37.5 billion, 32.7 percent higher than the same period of 2020 and well above analyst estimates of $34.88 billion.
Same-store sales rose by 31 percent. Profits nearly doubled, amounting to $4.1 billion, or $3.86 per share, beating the $3.04 per share forecast by analysts. A year ago the company posted earnings of $2.2 billion ($2.08 per share). Like other home improvement retailers, Home Depot has benefited from an ongoing boom in-home projects as people continue to work and study from home.
