Shares of The Home Depot Inc. declined more than 2% before the market opened Tuesday.
The Atlanta company earned $4.34 billion in the quarter, or $4.24 per share. That far exceeds the per-share projections of $4.11 on Wall Street, according to a survey of industry analysts by Zacks Investment Research.
Quarterly revenue of $38.87 billion also exceeded forecasts.
However, for the year, the home improvement retailer affirmed its expectations that sales would grow about 3%, which is weaker than most analysts have projected. It expects per-share growth in the mid-single digits percentage range.