MOORESVILLE, N.C. (AP) — MOORESVILLE, N.C. (AP) — Lowe’s Cos. (LOW) on Tuesday reported fiscal first-quarter net income of $1.76 billion.
On a per-share basis, the Mooresville, North Carolina-based company said it had net income of $3.06.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.94 per share.
The home improvement retailer posted revenue of $21.36 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $21.07 billion.
Lowe’s expects full-year earnings to be $12 to $12.30 per share, with revenue in the range of $84 billion to $85 billion.
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