Lowe's Posts Mixed Q2 Results

The home improvement retailer's earnings beat Wall Street projections, but total revenue fell short.

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MOORESVILLE, N.C. (AP) — Lowe's Cos. on Wednesday reported fiscal second-quarter net income of $2.99 billion.

On a per-share basis, the North Carolina-based company said it had net income of $4.67.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $4.63 per share.

The home improvement retailer posted revenue of $27.48 billion in the period, which fell short of Street forecasts. Eleven analysts surveyed by Zacks expected $28.2 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.

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