Home Depot Misses Q2 Revenue Expectations, Stock Drops

Home Depot Inc. (HD) reported a slight miss on second-quarter revenue expectations, causing its stock to trade lower in premarket trading. While sales grew by 0.6% year-over-year, comparable sales decreased by 3.3%, reflecting weaker consumer demand due to higher interest rates and economic uncertainty. Despite the miss, Home Depot raised its full-year sales guidance and expects adjusted earnings per share to be within a specific range.

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