Home Depot posts mixed Q1 results

ATLANTA ― Home Depot’s Q1 profit and revenue exceeded analyst expectations while same-store sales missed estimates, weighed down by damp weather and an additional week in the previous fiscal year. Comparable store sales rose by 2.5%, falling short of the 4.2% forecast in a Zacks survey. Earnings rose from $2.4 billion to $2.51 billion, or $2.27 per diluted share, ahead of the projected $2.16 per share. Net sales increased by 5.7% to $26.38 billion, compared to $24.95 billion a year ago.