The Home Depot posted strong profits in its final quarter of 2022, but a tepid outlook for this year sank shares of the home improvement retailer before markets opened Tuesday.
The Atlanta company had a fourth-quarter profit of $3.36 billion, or $3.30 per share, which is 3 cents better than Wall Street had expected, according to a survey of analysts by Zacks Investment Research.
Quarterly revenue of $35.83 billion was just shy of expectations, but the focus was on the retailer’s projections for this year.
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