Lowe's (NYSE:LOW) announced that net income for the third quarter was higher by 76 percent due to higher revenue and lower charges. The company earned $396 million, or 35 cents per share, versus $225 million, or 18 cents per share, in the same period last year. Analysts had expected earnings of 36 cents per share. Revenue was higher by 2 percent to $12.07 billion from $11.85 billion, and analysts expected $11.93 billion.
The company also reaffirmed its forecast for the full year.
Last weak, rival home improvement retailer Home Depot (NYSE:HD) announced that income was slightly higher for the third quarter, while it raised its forecast for the full year.
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