UPDATE: Toll Brothers FQ2 Profit Rises 46%

Toll Brothers

reported a 46% rise in its fiscal second-quarter profit. Toll Brothers' quarterly profit surged to $24.7 million, or $0.14 per share, from $16.9 million, or $0.10 per share, in the year-ago period. Its revenue rose 38% to $516 million. However, analysts were estimating earnings of $0.07 per share on revenue of $512 million. Net signed contracts gained 36% to 1,753 units. Toll Brothers shares closed at $36.01 yesterday.