MOORESVILLE, N.C. (AP) — MOORESVILLE, N.C. (AP) — Lowe’s Cos. (LOW) on Wednesday reported fiscal first-quarter net income of $1.64 billion.
The Mooresville, North Carolina-based company said it had net income of $2.92 per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.88 per share.
The home improvement retailer posted revenue of $20.93 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $20.92 billion.
Lowe’s expects full-year earnings to be $12.15 to $12.40 per share, with revenue in the range of $83.5 billion to $84.5 billion.
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