Lennar beats 2Q net income and revenue expectations

Markets Associated Press

Lennar Corp. (LEN) on Wednesday reported fiscal second-quarter earnings of $183 million.

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On a per-share basis, the Miami-based company said it had profit of 79 cents.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The homebuilder posted revenue of $2.39 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $2.05 billion.

Lennar shares have risen slightly more than 9 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 3 percent. The stock has climbed 18 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LEN at http://www.zacks.com/ap/LEN

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Keywords: Lennar, Earnings Report