Higher home prices boost Toll Brothers' revenue
Aug 21 (Reuters) - Toll Brothers Inc, the largest U.S. luxury homebuilder, reported a 24 percent increase in revenue as it sold more homes at higher prices.
Average selling price rose 13 percent to $651,000 for the third-quarter and orders increased 26 percent to 1,405 units.
Net income fell to $46.6 million, or 26 cents per share, from $61.6 million, or 36 cents per share, a year earlier.
Revenue rose 24 percent to $689.2 million.
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