Home Depot Shares Rise on Better-Than-Expected Earnings

Home Depot's shares rose around 1% in premarket trading after the company reported second-quarter sales and adjusted earnings that surpassed expectations.

The retailer maintained its full-year outlook, with the midpoint continuing to indicate slight comparable sales growth and minimal earnings leverage.

The 1.7% rise in comparable sales was driven by a higher average basket size, with the average ticket increasing 2.8% to $92.50 as comparable transactions declined by 1.0%.

Revenue totaled $47.86 billion, and adjusted earnings per share were $4.92, above the $4.73 estimate from LSEG.