D.R. Horton Earnings Climb 86% After Jump in Home Prices
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D.R. Horton Inc., the largest U.S. homebuilder by revenue, said earnings jumped 86 percent in the fiscal first quarter as the company was able to raise prices and deliver more houses.
Net income rose to $123.3 million, or 36 cents a share, in the three months ended Dec. 31 from $66.3 million, or 20 cents, a year earlier, the Fort Worth, Texas-based company said in a statement today. That compares with a 30-cent average estimate of nine analysts, according to data compiled by Bloomberg.