Shares ofLowe’s Companies (NYSE:LOW)popped 9.6% on Wednesday after the home improvement retailer delivered solid second-quarter results.
Lowe’s total sales rose 1% year over year to $27.6 billion. That was above Wall Street’s estimates for revenue of $26.9 billion.
The better-than-expected performance was driven by robust growth in Lowe’s professional and installation services. Sales in those segments increased 21% and 10%, respectively. A 7% rise in e-commerce sales also contributed to the gains.