MOORESVILLE, N.C. (AP) — Lowe's Cos. on Wednesday reported fiscal first-quarter earnings of $2.33 billion.
On a per-share basis, the Mooresville-based company said it had profit of $3.51.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $3.24 per share.
The home improvement retailer posted revenue of $23.66 billion in the period, which missed Street forecasts. Ten analysts surveyed by Zacks expected $23.73 billion.
Lowe's expects full-year earnings to be $13.10 to $13.60 per share, with revenue in the range of $97 billion to $99 billion.