percent drop in third quarter profits Tuesday as the deteriorating housing market put a crimp on home renovations. Home Depot said it earned . billion or cents a share for the three months ending Oct. compared with a profit of . billion or cents a share for the same period a year ago. We are facing a tough environment as housing indicators continue to deteriorate. Our financial performance in the third quarter reflects these tough conditions Blake said in a statement. Revenue in the quarter dropped . billion compared with . billion the same period a year ago and fell short of analyst expectations of . For the first nine months of the year Home Depot said it earned . a share compared with a profit of . a share a percent drop. Nine month revenue fell . billion compared with . billion recorded in the same period a year ago. The fiscal earnings per share outlook reflects weeks and does not include the impact of the rd week. This material may not be publ! ished broadcast rewritten or redistributed.
Source: www.newsday.com/business/ats-ap_business11nov13,0,6849219.story
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