Lennar reports 27.5 pct rise in quarterly revenue

U.S. homebuilder Lennar reported on Wednesday a 27.5 percent rise in first-quarter revenue, boosted by an increase in home sales and higher prices.

Net income attributable to Lennar shareholders rose to $136.2 million, or 53 cents per share, in the quarter ended Feb. 28, from $38.1 million, or 16 cents per share, a year earlier.

Excluding items, the company earned $1.11 a share.

Revenue rose to $2.98 billion from $2.34 billion.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Arun Koyyur)