Pulte posts third-quarter profit as new home orders rise

Reuters

PulteGroup Inc , the second largest U.S. homebuilder, posted a quarterly profit and a sharp rise in new orders as the company benefited from a rebound in housing demand.

Pulte reported third-quarter net income of $116.6 million, or 30 cents per share, compared with a net loss of $129.3 million, or 34 cents per share, a year earlier.

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Revenue rose 12 percent to $1.23 billion.

New home orders, a key metric that determines housing demand, rose 27 percent to 4,544 homes.

(Reporting by Bijoy Koyitty in Bangalore; Editing by Supriya Kurane)