New Delhi, Feb. 24 -- Home Depot equity climbed more than 3% on Tuesday following the firm's quarterly profit exceeding analyst projections despite a stagnant U.S. residential market, supported by steady demand from professional builders and minor renovations by cost-conscious homeowners.

At 12:42 p.m. EST, Home Depot shares were trading at $388.07, up by 2.94%, or $11.08.

The retailer, which reaffirmed its full-year outlook, has prioritized professional clients like contractors and carpenters. Their large-scale, persistent projects have enabled the company to balance the decline in major DIY initiatives caused by steep interest rates and a cooling national housing sector.

This past November, the company debuted an artificial intellige...