Homebuilder Lennar’s quarterly profit jumps 76%

Lennar, the second-largest U.S. homebuilder, on Wednesday posted a 76.1 percent jump in quarterly profit, as easing mortgage rates boosted homebuyer appetite.

Net income attributable to Lennar rose to $239.9 million, or 74 cents per share, in the first quarter ended Feb.28, from $136.2 million, or 53 cents per share, a year earlier.

Total revenue rose 29.7 percent to $3.87 billion.

The post Homebuilder Lennar’s quarterly profit jumps 76% appeared first on USNewsRank.

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