US Stock Market Move | Home Depot, Inc. (HD.US) rose more than 3.5%. The Chief Financial Officer stated that its Q2 performance was the best in nearly two years.

On Tuesday, Home Depot, Inc. (HD.US) saw its stock price rise, with the stock up over 3.5% to $408.66 as of the time of writing. Home Depot, Inc. reported a second quarter non-GAAP earnings per share of $4.68, which was $0.01 lower than expected. Revenue was $45.28 billion, a 4.8% year-on-year increase. Chief Financial Officer Richard McPhail stated that the company's performance was the strongest in the past two years. Consumers are increasingly taking on small projects, and sales increased year-on-year in 12 out of the 16 sales departments. Additionally, the year-on-year trend in sales improved each month of the quarter, with same-store sales up 0.3% in May, 0.5% in June, and 3.3% in July, he said. He added, "Throughout the quarter, the momentum in our core business areas has continued to strengthen." Home Depot, Inc. also reiterated its full-year performance guidance. The company expects total annual sales to increase by 2.8%, while same-store sales, excluding one-time factors such as new store openings and month-to-month variations, are projected to increase by approximately 1%.