Home Depot’s earnings shoot up by 86%
The first-quarter reports of biggest home improvement company in the United States has many in awe.
Home Depot has managed to stay afloat despite the nosedive its shares had experienced due to the global COVID-19 pandemic.
The home improvement company declared a net profit of $37.5 billion, exceeding the first-quarter expectations of experts.
Home Deport’s shares in the stock markets surged and sold at $3.86, causing an 86% increase in its net profit.
Home Depot confirmed that even in the face of the economic issues in the U.S, there has been an increase in the demand for its products which are used for building and renovating houses.
Finance analysts have predicted that Home Depot’s shares will stay bullish for a long while and the company will record an additional 20% increase in sales by the second quarter.