Home Depot’s revenue jumps 23% in the fiscal second quarter

Home Depot (NYSE: HD) published its quarterly financial results on Tuesday that highlighted a 23% year over year increase in sales. The company attributed the increase to the Coronavirus pandemic that restricted people from outdoor activities. As a result, home improvement projects were very much in trend in recent months. Amidst the virus outbreak, Home Depot is currently in fierce competition with its peer, Lowe’s. Shares of the company jumped 2.7% in premarket trading on Tuesday. Including the gain, Home Depot is now exchanging hands at £223 per share. In March, the stock had dropped to as low as £116