Home Depot 2Q results top Street, ups 2013 outlook

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Associated Press

Posted on August 20, 2013 at 6:01 AM

Updated Tuesday, Aug 20 at 6:02 AM

ATLANTA (AP) — Home Depot's second-quarter net income jumped 18 percent as the nation's biggest home improvement company continues to ride surging home sales this year.

Home Depot beat Wall Street expectations and raised its full-year earnings and revenue expectations.

Shares rose more than 2 percent before the opening bell.

For the three months ended Aug. 4, Home Depot Inc. earned $1.8 billion, or $1.24 per share. That compares with $1.53 billion, or $1.01 a year ago.

Revenue for the Atlanta company climbed more than 9 percent to $22.52 billion, from $20.57 billion.

Analysts expected earnings of $1.21 per share on revenue of $21.79 billion.

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