D.R. Horton profit rises 57 percent

(Reuters) - U.S. homebuilder D.R. Horton Inc reported a 57 percent rise in quarterly profit on Thursday, driven by higher demand for new homes in the spring season.

The company's net income rose to $453.8 million, or $1.18 per share in the third quarter ended June 30, from $289 million, or 76 cents per share, a year earlier.

Revenue rose 17.4 percent to $4.43 billion.

(Reporting by Arunima Banerjee and Sanjana Shivdas in Bengaluru; Editing by Bernard Orr)