Home Depot cuts 2019 forecast after sales miss

Home Depot shares tumbled Tuesday after the company once again cut its 2019 forecast, and also reported same-store sales well below estimates.

The company said revenue, which also missed analysts’ targets, was hurt by investments it is making in its business. Earnings came in a penny better than expected.

Shares of Home Depot were down about 5% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: $2.53, adjusted, vs. $2.52 expected Revenue: $27.22 billion vs. $27.53 billion expected Same-store sales growth, global: 3.6% vs. 4.7% expected

www.cnbc.com/2019/11/19/home-depot-earnings-q3-2019.html

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