April 24, 2014 / 11:11 AM / 4 years ago

Higher home prices boost D.R. Horton's profit

April 24 (Reuters) - D.R. Horton Inc, the top U.S. homebuilder, reported an 18 percent rise in quarterly profit as it charged more for its houses, and said orders rose 9 percent.

The company’s net income rose to $131.0 million, or 38 cents per share, in the second quarter ended March 31, from $111.0 million, or 32 cents per share, a year earlier.

Homebuilding revenue rose 22.7 percent to $1.68 billion.

Average selling price increased 10 percent to $278,900. (Reporting by Sagarika Jaisinghani in Bangalore; Editing by Saumyadeb Chakrabarty)

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