Why Shares of Home Depot Are Down Today
Shares of Home Depot (NYSE: HD) fell more than 5% on Tuesday morning after the home improvement retailer reported third-quarter sales that fell short of expectations and cut its growth forecast for the second time this year. The company's push to grow online sales isn't paying off as quickly as management had hoped.
On Tuesday before markets opened, Home Depot reported third-quarter earnings of $2.53 per share, in line with estimates, on revenue of $27.2 billion, nearly $300 million short of expectations. Diluted earnings per share increased 0.8% year over year, while net earnings of $2.8 billion were down slightly from $2.9 billion in the third quarter of 2018.
Image source: Getty Images.
Source Fool.com
