Toll Brothers Fourth-Quarter Profit Rises With Home Prices

Toll Brothers Inc., the largest U.S. luxury-home builder, said fiscal fourth-quarter earnings rose as it sold more homes at higher prices.

Net income for the three months through October climbed to $147.2 million, or 80 cents a share, from $131.5 million, or 71 cents, a year earlier, the Horsham, Pennsylvania-based builder said in a statement Tuesday. The average of 16 estimates was for 83 cents a share, according to data compiled by Bloomberg.