Pursuits
Toll Brothers Profit Tops Estimates as Home Orders Jump
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Toll Brothers Inc., the largest U.S. luxury-home builder, reported a second-quarter profit that beat estimates as orders jumped in an improving housing market.
Net income was $16.9 million, or 10 cents a share, for the three months through April, compared with a loss of $20.8 million, or 12 cents, a year earlier, the company said today in a statement. The average estimate of 18 analysts in a Bloomberg survey was for a profit of 3 cents a share.