MIAMI (AP) — MIAMI (AP) — Lennar Corp. (LEN) on Wednesday reported fiscal first-quarter net income of $719.3 million.
On a per-share basis, the Miami-based company said it had net income of $2.57.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.21 per share.
The homebuilder posted revenue of $7.31 billion in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $7.44 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LEN at https://www.zacks.com/ap/LEN
