Toll Brothers Posts Better-than-expected Quarterly Profit, Sales

Home builder Toll Brothers Inc. on Tuesday said first-quarter net earnings were $81.3 million, or 44 cents a share, climbing from $45.6 million, or 25 cents a share, in the year-earlier period. Revenue rose 33% to $853.5 million from $643.7 million. Analysts polled by FactSet had expected earnings of 29 cents a share, on revenue of $779.6 million. "Momentum continues to build as we begin the spring selling season," with the number of signed contracts up 13% since the start of the second quarter, Toll Brothers said in a statement.