D.R. Horton Exceeds Profit Estimates Despite Declining Homebuilding Revenue
D.R. Horton (NYSE:DHI) reported quarterly earnings that exceeded Wall Street expectations, with earnings per share of $2.24 and revenue of $7.56 billion. Despite a 2% decline in homebuilding revenue and a year-over-year drop in net income, the company's strong margins helped it beat profit estimates. Shares rose about 8% following the results.
Tickers: $DHI
Topics: Earnings Homebuilding Profit Revenue Stock Price Movement