Home Depot Sales Lifted by Smaller Projects Amid Housing Slump

Home Depot's quarterly sales saw an improvement in the second quarter due to customers focusing on smaller projects during the summer months, despite the U.S. housing sector being in a slump.

The company's revenue rose to $47.86 billion from $45.28 billion, beating Wall Street expectations of $47.24 billion, according to FactSet.

Globally, sales at stores open at least a year increased by 1.7%, while U.S. comparable store sales rose 1.3%.

Chief Financial Officer Richard McPhail noted that customers were engaged in 'broad based demand' across the business.