Personal Finance

Home Depot’s net income rises 18 percent

Earnings reports

• Home Depot’s first-quarter net income rose 18 percent, thanks to the ongoing housing recovery, despite a chilly and wet spring. Its quarterly results topped Wall Street expectations, and the world's biggest home improvement chain boosted its full-year earnings and revenue forecasts. For the three months ending May 5, Home Depot earned $1.23 billion, or 83 cents per share. Revenue for the Atlanta company rose 7 percent to $19.12 billion.

• Intuit, the largest seller of personal finance software, reported third-quarter sales and profits that topped analysts’ estimates as more customers used online tools for tasks such as tax preparation. Net income in the third quarter rose 12 percent to $822 million, or $2.71 a share.

Taking charge

Intel chief executive officer Brian Krzanich, trying to speed up the company's push into mobile markets, has taken direct control of the division that is responsible for designing chips.

The former factory manager, promoted to the company's top job last week, now has the Intel Architecture Group reporting directly to him, Intel said in a regulatory filing.

Intel will accelerate a push to get its chips used by makers of smartphones and tablets, Krzanich told Intel shareholders at the annual meeting last week, when he became CEO.