Home Depot Stock Falls Despite Strong Earnings and Dividend Hike

Home Depot's stock price fell by 2.3% on Wednesday, following a weak open and broader selling pressure despite reporting strong second-quarter results.

The company posted earnings per share of $4.92 on revenue of $47.86 billion, both exceeding market expectations.

Comparable store sales grew 1.7%, driven by higher online activity and sustained professional demand, while the quarterly dividend was raised to $2.33 per share, marking its 156th consecutive payout.