Home Depot rebounds in Q2

ATLANTA ― Home Depot reported earnings above Wall Street estimates, following on a slower Q1 in which cool weather in much of the U.S. put a damper on construction. Net earnings rose to $3.5 billion, or $3.05 per share, compared to $2.7 billion ($2.25) in Q1 of 2017 and analyst estimates of $2.84 per share. Net sales surged by 8.4% to $30.5 billion, besting a forecast of $30.03 billion. At stores open for more than a year, sales increased by 8%, where analysts had on average expected a 6.65% hike. “Not only did our seasonal business rebound from the first quarter,” Chairman and CEO Craig Menear said in a release, “but our overall results exceeded our expectations.”