Toll Brothers quarterly profit more than doubles

Wed May 28, 2014 5:11am EDT

May 28 (Reuters) - Toll Brothers Inc, the largest U.S. luxury homebuilder, said quarterly profit more than doubled as it sold more homes at higher prices.

The company's net income rose to $65.2 million, or 35 cents per share, in the second quarter from $24.7 million, or 14 cents per share, a year earlier.

Revenue rose 66.7 percent to $860.4 million in the three months ended April 30 - a period well into the spring selling season, which is to homebuilders what the holiday shopping season is to retailers. (Reporting By Sagarika Jaisinghani and Aurindom Mukherjee in Bangalore; Editing by Gopakumar Warrier)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.