The Home Depot Shares Up 4% Following Q2 Beat

The Home Depot, Inc. (NYSE:HD) shares rose around 4% on Tuesday following the company’s reported Q2 results, with EPS of $5.05 coming in better than the Street estimate of $4.94. Revenue was $43.8 billion, compared to the Street estimate of $43.36 billion, representing the highest quarterly revenue in the company’s history.

The company reaffirmed its full 2022-year outlook, expecting total sales growth and comparable sales growth of approximately 3% and diluted EPS growth in the mid-single digits percentage.

According to the analyst at Oppenheimer, the strong quarterly results and commentary from management should help squelch further ongoing market concerns of a forthcoming, significant pullback in spending.