5/19, 12:03 PM (Source: TeleTrader)
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Home Depot's diluted EPS falls 8.4% to $2.08 in Q1

The Home Depot Inc. published on Tuesday its financial results for the first quarter of the year, saying its diluted earnings per share dropped 8.4% to $2.08. For the same period, the company's net earnings fell 10.7% to $2.25 billion. On the other hand, its revenue rose 7.1% to reach $28.3 billion in the three months ending May 3.

Home Depot's CEO Craig Menear explained the results by saying the company "took early and decisive action to intentionally limit customer traffic in stores which had a significant impact on sales in many markets," adding that "the robust and flexible interconnected infrastructure allowed the company to quickly adapt to changing customer preferences and achieve strong sales performance in the quarter."

Due to uncertainties connected to the coronavirus pandemic, Home Depot suspended its 2020 fiscal guidance.

Breaking the News / ND