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Lennar revenue beats on higher home sales; orders rise


REUTERS - No. 2 U.S. homebuilder Lennar Corp on Wednesday reported higher-than-expected quarterly revenue as it sold more homes at higher prices, and said orders rose 11.5 percent.Orders climbed to 7,357 homes in the fourth quarter ended Nov. 30, from 6,598 a year earlier, while the average selling price for home deliveries rose 8.4 percent to $388,000.Lennar's orders have climbed for at least five straight years as the U.S housing market recovered from the sub-prime crash of 2007-2008.Total revenue rose 12.1 percent to $3.79 billion, beating the average analyst estimate of $3.57 billion, ...

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First Published: Wed, January 10 2018. 17:42 IST