Lennar's revenue jumps 67.4 pct, shares rise


Lennar reported a 67.4 percent rise in second-quarter revenue on Tuesday, helped by strong housing demand amid an expanding economy and job growth.

The U.S. homebuilder's shares rose nearly 6 percent before the bell.

Orders, an indication of future revenue for homebuilders, jumped 62.3 percent to 14,440 homes in the quarter.

The Miami-based builder said it sold 12,095 homes, compared with 7,710 homes last year. The average sales price rose 10.4 percent to $413,000.

Net income attributable to Lennar's shareholders rose 45.2 percent to $310.3 million, or 94 cents per share, in the quarter ended May 31.

Excluding items, the company earned $1.58 per share.

Revenue rose to $5.46 billion from $3.26 billion.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Maju Samuel)