UPDATE: Lennar Q3 Net Profit Surges 39%
Lennar (NYSE: LEN) reported a 39% rise in its third-quarter net profit.
Lennar's quarterly net profit surged to $120.7 million, or $0.54 per share, from $87.1 million, or $0.40 per share, in the year-ago period.
Its revenue rose 46% to $1.6 billion from $1.1 billion, while new orders climbed 14%. However, analysts were estimating earnings of $0.45 per share on revenue of $1.55 billion.
Lennar shares closed at $34.54 yesterday.
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