RTTNews | Aug 18, 2021 10:35AM EDT

10:34 Wednesday, August 18, 2021 (RTTNews.com) - Lowe's Companies, Inc. (LOW) shares are rising on Wednesday morning trade after the retail giant reported higher profit for the second quarter and raised fiscal 2021 outlook.

The company reported net earnings of $3.02 billion or $4.25 per share, up from $2.83 billion or $3.74 per share a year ago.

Revenue for the quarter increased to $27.57 billion from $27.302 billion last year. For the full year, the company has raised its revenue guidance to approximately $92 billion from its earlier view of $86 billion. It said the revised outlook represents about 30% comparable sales growth on a two-year basis.

Currently, shares are at 201.62, up 10.63 percent from the previous close of $182.26 on a volume of 6,499,142. For the 52-week period, the shares have traded in a range of $146.72-$215.22 on average volume of 3,599,179.

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