Home Depot posts better-than-expected Q3 sales and profits

US home improvement retailer Home Depot delivered better-than-expected topline growth and earnings for the third quarter.

The company posted a 4.3% jump in like-for-like sales for the three months to September (FactSet: 3.1%).

Total sales meanwhile grew by 5.6% to reach $38.87bn (FactSet: $37.95bn), for quarterly earnings per share of $4.24 (FactSet: $4.12) with the latter up from $3.92 one year earlier.

Home Depot also reaffirmed guidance for LFL growth of 3.0% across fiscal year 2022.

As of 1206 GMT, shares of Home Depot were slipping 0.99% to $303.88.

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