Home Depot 2Q profit rises on better US sales

(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.