Lennar profit rises 36% on higher home sales
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FILE PHOTO: Newly constructed houses built by Lennar Corp are pictured in Leucadia, California March 18, 2015. REUTERS/Mike Blake
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Mike Blake(Reuters)
(Reuters) – Lennar Corp, the No. 2 U.S. homebuilder, reported a 36% rise in quarterly profit, as it sold more homes after a fall in mortgage rates.
Net earnings attributable to Lennar rose to $421.5 million (330 million pounds), or $1.30 per share, in the second quarter ended May 31, from $310.3 million, or 94 cents per share, a year earlier.
Total revenue rose 1.9% to $5.56 billion.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Maju Samuel)
