MOORESVILE, N.C. — Lowe’s third-quarter net income increased 26 percent, as the home-improvement retailer was bolstered by the housing market’s ongoing recovery.

Its earnings were a penny short of expectations, but revenue beat forecasts.

The company boosted its fiscal 2013 forecasts again.

Lowe’s earned $499 million, or 47 cents per share, for the period ended Nov. 1. That’s up from $396 million, or 35 cents per share, a year ago. Analysts polled by FactSet expected 48 cents per share.