Home Depot reported quarterly earnings that exceeded analysts' predictions on Tuesday and raised its full-year outlook.
The company posted third-quarter earnings excluding items of 74 cents per share, compared to estimates of 70 cents per share.
Third-quarter revenue also beat estimates coming in at $18.1 billion compared to estimates of $17.9 billion.
The world's largest home improvement chain has benefited from an improvement in the U.S. housing market.
"Our third-quarter results were better than we expected and reflected, in part, what we believe is the start of the path toward the healing of the housing market," Frank Blake, chairman & CEO of the company said in a statement.
After the earnings announcement, the company's shares edged higher in pre-market trading. (Click here to get the latest quotes for Home Depot.)
The retail chain also raised its full-year earnings forecast to $3.03 per share on an adjusted basis. Analysts had expected $2.97, according to a poll by Reuters I/B/E/S.
The company said it will buy an additional $700 million of its shares in the fourth quarter.
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