Lowe’s Companies (LOW) released its third quarter financial results before the opening bell on Wednesday. The retailer reported both higher earnings and revenue, which came in above estimates.

Earnings

Lowe’s reported third quarter earnings of $585 million, or 59 cents per share, up from $499 million, or 47 cents per share, in the year prior. On average, analysts expected to see earnings of 58 cents per share.

Revenue
The company reported a 5.6% increase in quarterly revenue to $13.68 billion from $12.96 billion last year. Analysts expected to see revenue of $13.55 billion.

Outlook
Looking ahead, the company expects to see FY2015 earnings of $2.68 per share, which would exceed analysts’ expectation of $2.63 per share for the year.

Although the funds mentioned hold only a small stake in Lowe’s Companies, it is still important for investors to be pay attention to major news events like earnings releases, as they can have an effect on mutual fund performance.