NEW YORK (Reuters) - Top home-improvement chain Home Depot Inc reported a higher-than-expected quarterly profit on tighter cost controls, but sales missed Wall Street estimates.
The news came the day after rival Lowe's Cos
Home Depot's net income rose to $1.2 billion, or 72 cents a share, in the second quarter ended August 1 from $1.1 billion, or 66 cents a share, a year earlier.
Analysts on average were expecting 71 cents a share, according to Thomson Reuters I/B/E/S.
Sales rose 1.8 percent to $19.41 billion, missing the average estimate of $19.59 billion. Sales at stores open at least a year rose 1.7 percent.
(Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn)
