Katie O'Brien
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Katie O'Brien in Senior Content Editor,

Harsh Weather is Good News for Home Depot

The Home Depot (NYSE: HD) cited earnings up for the first quarter, according to CNBC, with harsh winters, a positive housing market and heavy snowfalls increasing sales for the home improvement company. 

The company earned $1.16 per share for the quarter, increasing revenue by 6%, ultimately reaching $20.89 billion. This is great news for Home Depot, which reported poor numbers in the pervious quarter, lifting shares significantly in premarket Tuesday. 

"We had a stronger than expected start to the year as we experienced a more normal spring across much of the country and continued recovery of the U.S. housing market," Chief Executive Craig Menear said in a statement, according to CNBC.

Shares closed high Monday up 9%.

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