Home Depot Sales Surge 23% in the Second Quarter

While COVID-19 has put many companies, big and small, out of business, some have seen explosive growth tied to the pandemic. Home Depot (NYSE: HD) sales soared 23% in the second quarter as customers under lockdown focused on home improvement projects, and investments the company made in 2019 have started to pay off.

Home Depot took in more than $38 billion in revenue during the quarter. U.S. comps increased 25%, and earnings per share shot up to $4.02 from $3.17 last year. The company also spent $480 million on extra employee benefits.

Image source: Home Depot.

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Source Fool.com