Home Depot (HD) stock slips lower on Tuesday after the home improvement retailer shared mixed third quarter results that missed adjusted earnings expectations ($3.74 per share vs. estimates of $3.84) but beat revenue expectations ($41.4 billion vs. estimates of $41 billion). The chain cut its full-year profit outlook on a sluggish US housing market and slowdowns in home improvement projects.
Telsey Advisory Group senior managing director Joe Feldman explains to Julie Hyman why Home Depot’s forecast for its second half was likely too optimistic.
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