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Home Depot Tops Estimates

Strong Q3 profit gains attributed to shoppers' increased spending.

By Chris Burritt | Updated on November 15, 2011

Home Depot Inc., the world’s largest home-improvement retailer, reported a third-quarter profit gain that exceeded analysts’ estimates, spurred by an increasing number of customers who spent more.

Net income increased 12 percent to $934 million, or 60 cents a share, in the quarter that ended Oct. 30 from $834 million, or 51 cents, a year earlier, Atlanta-based Home Depot said today in a statement. Analysts projected 59 cents, the average of 22 estimates in a Bloomberg survey.

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