The Home Depot Reports Decrease in Net Income and Revenue for Q2 2023
Second Quarter Financial Results Show a Decline in Sales and Earnings for The Home Depot
By USInMinutes
Published - Aug 15, 2023, 08:53 AM ET
Last Updated - Aug 15, 2023, 08:53 AM EDT
The Home Depot, Inc.(HD), a leading home improvem ent retailer, has released its unaudited condensed consolidated financial statements for the second quarter of 2023. The company experienced a decline in both net income and revenue compared to the same period last year. Despite challenges, the company continues to maintain its strong market presence and strategic initiatives.
Net Income and Loss
The financial results for the three months ended July 30, 2023, indicate that The Home Depot's net earnings were $4.66 billion, marking a 9.9% decrease from the $5.17 billion recorded in the same period in 2022. This decrease in net income reflects challenges the company faced during the quarter.
Revenue Decline
