Home Depot reported earnings for the third quarter that easily topped forecasts.
Home Depot reported earnings for the third quarter Tuesday that easily topped forecasts. Overall sales rose nearly 10% from a year ago to $36.8 billion, also surpassing Wall Street's estimates. Chairman and CEO Craig Menear said in the company's earnings statement that results were solid thanks to"elevated home improvement demand that has persisted."Sales growth at stores open at least a year picked up in the third quarter.
The stock has soared nearly 50% so far this year and is trading at a record high. Read MoreHousing is the economy's Energizer bunny: It keeps going and goingTop rival Lowe's , which will report earnings on Wednesday, also rallied following Home Depot's results. Lowe's shares rose 4% Tuesday and are up more than 50% this year.
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