Homeowners are spending, Home Depot is winning

ATLANTA -- Home Depot is breezing past all expectations for the third quarter, including comparable-store sales, with consumers plowing money into homes even as the housing market appears to cool off.

The Atlanta company on Tuesday reported income of $2.87 billion, or $2.51 per share, far exceeding per-share projections for $2.27, according to a survey of industry analysts by Zacks Investment Research.

Revenue jumped 5.1 per cent to $26.3 billion.

Home Depot expects full-year earnings to be $9.75 per share.

Shares of The Home Depot Inc. rose more than 2 per cent before the opening bell.

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