MOORESVILLE, N.C. — Lowe’s Cos. today reported fiscal second-quarter net income of $2.99 billion.
On a per-share basis, the company said it had net income of $4.67.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $4.63 per share.
The home improvement retailer posted revenue of $27.48 billion in the period, which fell short of Street forecasts. Eleven analysts surveyed by Zacks expected $28.2 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.