Home Depot Inc reported a higher quarterly profit and raised its fiscal-year outlook as the world's largest home improvement chain gained share from rival Lowe's Cos Inc.

Net income in the third quarter ended on October 30 rose to $934 million, or 60 cents a share, from $834 million, or 51 cents a share, a year earlier.

(Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn)