October 2, 2019 / 10:11 AM / 2 months ago

Lennar profit rises 13% on higher home sales

Oct 2 (Reuters) - Lennar Corp, the No. 2 U.S. homebuilder, reported a 13.3% rise in quarterly profit on Wednesday, boosted by higher demand and cheaper mortgage rates.

Net income attributable to the company rose to $513.4 million, or $1.59 per share, in the third quarter ended Aug. 31, from $453.2 million, or $1.37 per share, a year earlier.

Revenue rose 3.3% to $5.86 billion. (Reporting by Dominic Roshan K.L. and Ankit Ajmera in Bengaluru; Editing by Maju Samuel)

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