Lowe's Shares Drop As Earnings Fall Short Of Estimates
Lowe's Shares Drop As Earnings Fall Short Of Estimates

On Wednesday, Lowe's reported quarterly same-store sales growth of more than 30%.

Sales for the third quarter were $22.3 billion.

That's compared to $17.4 billion in the same quarter in 2019.

Lowe's said their online sales doubled in the third quarter.

The company's earnings of $1.98 per share were one cent short of estimates from analysts, and its shares fell.

Lowe's net income fell to $692 million, or 91 cents per share, for the quarter ending October 30, 2020.