Home Depot beats expectations

ATLANTA — Home Depot posted higher profits and sales for the first quarter than analysts predicted, raising its forecast for the entire year. Same-store sales rose 6.1% as tough winter conditions in the U.S. northeast motivated homeowners to undertake repairs, while analysts had on average looked for gains of 5.5%. Net income rose 14.5% to $1.58 billion from $1.38 billion; revenue rose 6.1% to $20.89 billion. The company boosted its sales outlook for the year from 4.2-4.8% from 3.5-4.7%.