MOORESVILLE, N.C. (AP) — MOORESVILLE, N.C. (AP) — Lowe’s Cos. (LOW) on Wednesday reported fiscal second-quarter profit of $2.4 billion.
The Mooresville, North Carolina-based company said it had net income of $4.27 per share. Earnings, adjusted for costs related to mergers and acquisitions, were $4.40 per share.
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $4.22 per share.
The home improvement retailer posted revenue of $25.96 billion in the period, missing Street forecasts. Ten analysts surveyed by Zacks expected $26.13 billion.
Lowe’s expects full-year earnings to be $12.25 per share, with revenue expected to be $92 billion.
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