Profit jumps 22 percent

Tuesday, Nov. 18, 2003 | 9:31 a.m.

ATLANTA -- The Home Depot cited its best quarterly advance in same-store sales in four years as it reported a 22 percent jump in third-quarter earnings, handily beating Wall Street expectations. The company also raised its full-year earnings growth guidance.

The nation's largest home improvement store chain said today it earned $1.15 billion, or 50 cents a share, for the three months ending Nov. 2, compared to a profit of $940 million, or 40 cents a share, for the same period a year ago.

Analysts surveyed by Thomson First Call were expecting earnings of 46 cents a share.

Revenue in the quarter was $16.6 billion, a 14.7 percent jump from the $14.48 billion the Atlanta-based company recorded a year ago.

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