Shares of Home Depot (HD) rose 3.6% in Tuesday's trading session, thereby providing some much needed support for the wider equity markets. The home improvement retailer gave a positive update for its full year of 2012, when reporting its third quarter results.
Third Quarter Results
Home Depot reported third quarter revenues of $18.13 billion, up 4.6% on the year. The sales growth is almost entirely driven by comparable store sales growth of 4.2%. The number of transactions rose by 1.7% on the year, with average ticket prices up 2.9% to $54.55. Revenues comfortably beat analysts consensus of $17.9 billion.
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