Home Depot Beats Estimates Amid Declining Transactions and Weak Demand

Home Depot reported better-than-expected sales and profit for its second quarter, but still lost $1.5 billion in market value.

The company beat estimates with a 5.7% increase in net sales to $47.86 billion and adjusted earnings of $4.92 per share.

However, transactions fell by 1%, while the average ticket price increased by 2.8% to $92.50.

The company received a $730 million tariff refund, which helped cushion product costs, but it was not enough to offset the decline in traffic and sales growth.