Toll Brothers Earnings Beat Estimates as Home Sales Rise

Toll Brothers Inc., the largest U.S. luxury-home builder, reported earnings that beat analysts’ estimates as prices rose and sales improved at its East Coast communities.

Net income was $15 million, or 9 cents a share, for the fourth quarter ended Oct. 31, compared with $50.5 million, or 30 cents, a year earlier, the Horsham, Pennsylvania-based company said in a statement. Analysts expected earnings of 6 cents a share, the average of 18 estimates in a Bloomberg survey.