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Lowe's Surges 13%

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Lowe's Surges 13%

Lowe's Surges 13%

Lowe' shares climbed as much as 13% on Wednesday after posting revenue and profit that beat analyst's expectations.

The home-improvement retailer said overall sales from existing Lowe's stores grew 2.3%.

According to Markets Insider, the retailer also reported same-store revenue from US locations climbed 3.2%.

Revenue hit $20.99 billion versus the $20.96 billion that was expected by analysts, while earnings per share hit $2.15.

Lowe's chief executive officer believes the company's positive results are a reflection of a "solid macroeconomic backdrop."

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