HOME DEPOT RESULTS FOR 3Q

Economic results

Home Depot's revenue declined 2% year-over-year to $37.71 billion, which was in line with market expectations. Comparable sales overall declined 3.1% YoY on expectations of a 3.31% decline. Directly in the United States, comparable sales fell by 3.5%, slightly below the market estimate of -3.67%.

Gross margin was 33.8% against expectations of 33.9%.

Average spending declined 0.3% year-over-year to $89.36; analysts were expecting a 0.5% decline.

Inventories came in at USD 22.81 billion versus the average analyst estimate of USD 24.92 billion.