The Home Depot announced quarterly results this week that beat the expectations of many Wall Street analysts. For the retail outlet’s quarter that ended May 5, Home Depot earned $1.23 billion – $0.83 per share. This is an increase from $1.04 billion ($0.68 per share) for the same period in 2012.
This beat a consensus of analysts’ expectations of $0.76 per share. Moreover, net income was up 18% and this is due in part to the housing recovery that was seen in the Case/Schiller index earlier this year. CEO Frank Blake reportedly said “While weather negatively impacted our seasonal and exterior businesses, our core interior project business remained strong throughout the quarter.”
“This was encouraging and consistent with the views that the housing market is starting on the path to recovery,” said Blake.
The key words in that quote are core interior project business. The Home Depot, Inc. (NYSE:HD)’s strong quarter is not only a reflection of an uptick in the housing market, but also strong demand in the Northeast as homeowners
are rebuilding in the wake of Super Storm
are rebuilding in the wake of Super Storm 
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