UPDATE: D.R. Horton Posts Better-Than-Expected FQ1 Profit

D.R. Horton DHI reported a rise in its fiscal first-quarter net income. D.R. Horton's quarterly profit surged to $66.3 million, or $0.20 per share, versus $27.7 million, or $0.09 per share, in the year-ago period. However, analysts were expecting earnings of $0.14 per share. D.R. Horton also posted upbeat quarterly revenue. Its home-building revenue came in $1.2 billion in the quarter, while financial-services revenue came in at $41.9 million. D.R. Horton shares gained 2.44% to $21.83 in pre-market trading.