Home Depot's sales are lifted by customers who focused on smaller projects over the summer

Home Depot reported improved second quarter sales, with revenue increasing to $47.86 billion and earning $4.77 billion for the three months ended Aug. 2. The company credited this success to broad-based demand as customers continued focusing on smaller projects. This strong performance occurs while the U.S. housing market remains pressured by rising mortgage rates and slowed existing home sales.