Home Depot posts record profit, revenue; sticks to outlook

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August 16th, 2022

Home Depot's second-quarter sales rose slightly as the nation's biggest Atlanta company benefitted from an $18 billion acquisition this spring, but customers continued to rein in spending because of broadly higher costs and elevated interest rates.
A Home Depot logo sign hands on its facade, Friday, May 14, 2021, in North Miami, Fla. (AP Photo/Wilfredo Lee, File)

Home Depot is seeing sustained demand for goods related to home improvement projects despite soaring prices and mortgage rates for homes.

Despite record profit and revenue, the Atlanta home improvement chain maintained its guidance for the year.

Revenue for the three months ended July 31 rose 6.5% to $43.79 billion, which topped projections of $43.35 billion on Wall Street, according to a survey by Zacks Investment Research.

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