Home Depot said Tuesday its fourth-quarter profit topped Wall Street analysts' expectations, boosted by an extra week of sales in the current quarter as well as by improvements in the U.S. housing market, and purchases made in the aftermath of super storm Sandy.
The home improvement giant also announced it would buy back as much as $17 billion of its own shares, and raise its dividend 35 percent to 39 cents from 29 cents a share. (Click here to track the market reaction to Home Depot's earnings report.)
In the latest period, Home Depot earned $1.0 billion, or 68 cents per share, up from earnings of $774 million, or 50 cents per share, in the year-ago period.
Sales rose to $18.25 billion from $16.01 billion a year ago.
Analysts had expected the company to report a profit of 64 cents on $17.70 billion in revenue, according to a consensus estimate from Thomson Reuters.