Toll Brothers profit jumps in second quarter, beating views
House-builder Toll Brothers Inc. on Tuesday said profit for the fiscal second quarter rose to $89.1 million, or 51 cents a share, from $67.9 million, or 37 cents a share, in the year-ago period. Revenue climbed to $1.12 billion, up 31% from $852.6 million last year. Analysts surveyed by FactSet expected earnings of 46 cents a share on revenue of $1.04 billion. The luxury-homes builder said it expects to deliver between 5,800 and 6,300 homes in the full-year 2016. That means revenue should come in between $4.76 billion and $5.36 billion for the full year. Shares didn't move in premarket trade.
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