Market Movers

Home Depot’s profit surges 14 percent


Home Depot’s quarterly net income surged 14 percent to $2.05 billion., thanks to a rebound in spring sales. Revenue climbed nearly 6 percent to $23.81 billion, beating Wall Street’s forecast. Sales at stores open at least a year, a key gauge, rose 5.8 percent; online sales gained more than 38 percent. For home-improvement retailers, spring is the biggest season. Home Depot now foresees fiscal 2014 earnings of $4.52 per share, up from a prior forecast of $4.42.

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