Business

Profit doubles for Lowe's

21 of November 2017

FILE - In this June 29, 2016, file photo, customers walk toward a Lowe's store in Hialeah, Fla. Lowe's Cos., Inc. reports financial results Tuesday, Nov. 21, 2017. (AP Photo/Alan Diaz, File),FILE - In this June 29, 2016, file photo, customers walk toward a Lowe's store in Hialeah, Fla. Lowe's Cos., Inc. reports financial results Tuesday, Nov. 21, 2017. (AP Photo/Alan Diaz, File)

Lowe's Cos. is reporting more than twice the third-quarter profits of last year and revenue is stronger than most had expected. The company said Tuesday that it expects full-year earnings to be $4.20 to $4.30 per share.

MOORESVILLE, N.C. (AP) — Lowe’s Cos. is reporting more than twice the third-quarter profits of last year and revenue is stronger than most had expected.

Net income, reported Tuesday, was $872 million, or $1.05 per share. That’s 3 cents better than Wall Street projections, according to a poll by by Zacks Investment Research.

The Mooresville, North Carolina, company posted revenue of $16.77 billion, edging out expectations. Lowe’s expects full-year earnings to be $4.20 to $4.30 per share.

Shares of Lowe’s Cos. have increased 15 percent since the beginning of the year.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LOW at https://www.zacks.com/ap/LOW