Home Depot Inc gained from the rebound experienced in the US housing market. The world's biggest home improvement chain posted net earnings in the second quarter ending August 4 of USD 1.80 billion. This was an increase from the same period last year when it had net earnings of only USD 1.53 billion. Sales also rose to USD 22.5 billion, representing an increase of 9.5%. It exceeded the USD 21.8 billion estimate given by analysts.

A recovery in the housing market boosted the sales.The July US data revealed a rise of 5.9% in the housing market. Home Depot Chief Executive Officer Frank Blake said the company experienced its first double-digit sales increase since 1999 in stores that were open for at least one year. Home Depot also experienced the highest quarterly transaction count of all time.

Analyst Gary Balter of Credit Suisse noted, "These stronger results demonstrate the sales leadership of the housing/home improvement segment and Home Depot's strong positioning and execution within it."