UPDATE: Lennar Posts Upbeat Q4 Profit

Lennar (NYSE: LEN) 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.

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