Toll Brothers Rises as Homebuilder’s Earnings Beat Estimates

Toll Brothers Inc., the largest U.S. luxury-home builder, reported earnings that were better than analysts expected after a tax benefit and demand for its move-up houses remained stronger than other segments of the market.

Net income for the third quarter ended July 31 was $42.1 million, or 25 cents a share, up from $27.3 million, or 16 cents, a year earlier, the Horsham, Pennsylvania-based company said today in a statement. Analysts expected earnings of 3 cents a share, the average of 17 estimates in a Bloomberg survey.