Home Depot is being cautious in its financial outlook for the rest of 2010. (photo courtesy Ildar Sagdejev)
The No. 1 home-improvement retailer trimmed its revenue forecast but raised its earnings forecast to account for share repurchases.
Rival Lowe's Cos. cut revenue guidance a day earlier as shoppers remain cautious in the uncertain economy.
Atlanta-based Home Depot says net income rose to $1.19 billion, or 72 cents per share. Analysts expected 71 cents per share.
Revenue rose 2 percent to $19.41 billion. Analysts predicted $19.59 billion.
Home Depot trimmed its revenue outlook to a 2.6 percent increase, from a 3.5 percent rise.
It now expects net income of $1.90, up from prior guidance of $1.88 per share. Analysts expect $1.89.
