Charlotte, N.C., Lowe’s Co., the second largest home improvement retailer in the United States, saw its second quarter profit rise 20% from last year and surpass predictions from Wall Street by 3? per share. The company said the gains were mostly due to installed items, special orders and sales to commercial businesses.
Quarterly net income was $838 million, or $1.05 per share, compared to $700 million, or 87? per share, last year. Revenue grew 17% to $11.93 billion. Last year’s revenue was $10.17 billion.