Lennar Corp. Announces Increase In Q1 Profit, Beats estimates

(RTTNews) - Lennar Corp. (LEN.B) reported a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $719.33 million, or $2.57 per share. This compares with $596.53 million, or $2.06 per share, in last year's first quarter.

Analysts on average had expected the company to earn $2.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.6% to $7.31 billion from $6.49 billion last year.

Lennar Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $719.33 Mln. vs. $596.53 Mln. last year. -EPS (Q1): $2.57 vs. $2.06 last year. -Revenue (Q1): $7.31 Bln vs. $6.49 Bln last year.