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Last updated: February 16. 2013 4:14PM - 75 Views

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(AP) Better sales in the U.S. and healthy demand for core products helped Home Depot's net income rise 13 percent in its fiscal second quarter.


The world's biggest home-improvement retailer also boosted its 2012 earnings outlook Tuesday, citing its performance so far this year.


For the quarter that ended July 29, Home Depot Inc. earned $1.53 billion, or $1.01 per share. A year earlier it earned $1.36 billion, or 87 cents per share.


The latest results topped the 97 cents per share analysts expected.


Revenue climbed to $20.57 billion from $20.23 billion, up 2 percent. Wall Street expected higher revenue of $20.74 billion.


Home Depot, based in Atlanta, runs more than 2,200 stores in the U.S. and around the world. Its smaller rival Lowe's Cos. reports its earnings Monday.


Associated Press
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