UPDATE: Lennar Posts Upbeat Q4 Profit

Lennar

reported upbeat fourth-quarter profit. Lennar's quarterly net income surged to $124.3 million, or $0.56 per share, versus $30.3 million, or $0.16 per share, in the year-ago period. Its revenue climbed 42% to $1.3 billion. However, analysts were projecting earnings of $0.44 per share on revenue of $1.31 billion, Its orders jumped 32% to 3,983 homes. Lennar shares closed at $41.02 yesterday.