Why did Home Depot stock reached all time high today after reporting earnings?

Home Depot stock reached a new high today after soaring almost 6 percent during the trading hours today.  The company stock was trading at $394 per share which is its 52 week high before retrieving back down and closing at $392.33 per share. 

The main reason why Home Depot (HD) stock was trading high today was that the company reported a great revenue due to the pandemic home improvement buys.  Home Depot reported some great numbers, same-store numbers were up 6.1%, the net income rose $4.13 billion from 3.43 billion which means it’s up by $3.18 per share.

Also, the net sale was up by 9.8 percent to $36.82 billion and the digital sales also increased by 8%.

• Earnings per share: $3.92 vs. $3.40 expected
• Revenue: $36.82 billion vs. $35.01 billion expected