Why Home Depot's Stock Is Trading Lower Today

The Home Depot Inc HD is trading lower Tuesday after the company announced its second-quarter financial results and reported that customer transactions were down 5.8% year over year.

Home Depot reported quarterly earnings of $4.53 per share, which beat the estimate of $4.43 per share. The company reported quarterly revenue of $41.1 billion, which beat the estimate of $40.73 billion. 

Home Depot reported 481.7 million customer transactions, which was down from 511.5 million transactions year over year. 

"We achieved a milestone of over $40 billion in quarterly sales for the first time in company history. I would like to extend my sincere appreciation to our team, as well as our supplier and supply chain partners, as they continue to operate in this dynamic and challenging environment," said Craig Menear, chairman and CEO of Home Depot.

Price Action: Home Depot has traded as high as $345.69 and as low as $246.59 over a 52-week period.

At last check Tuesday, the stock was down 3.33% at $323.90.

See also: HOW TO BUY HOME DEPOT (HD) STOCK