Lowe’s: Fiscal Q1 earnings snapshot

MOORESVILLE, N.C. — Lowe’s Cos. today reported fiscal first-quarter earnings of $2.33 billion.

On a per-share basis, the company said it had profit of $3.51.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $3.24 per share.

The home improvement retailer posted revenue of $23.66 billion in the period, which missed Street forecasts. Ten analysts surveyed by Zacks expected $23.73 billion.

Lowe’s expects full-year earnings to be $13.10 to $13.60 per share, with revenue in the range of $97 billion to $99 billion.