Lennar Corp. Announces Fall In Q2 Income, but beats estimates

(RTTNews) - Lennar Corp. (LEN.B) revealed a profit for second quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $871.69 million, or $3.01 per share. This compares with $1.32 billion, or $4.49 per share, in last year's second quarter.

Analysts on average had expected the company to earn $2.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.7% to $8.05 billion from $8.36 billion last year.

Lennar Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $871.69 Mln. vs. $1.32 Bln. last year. -EPS (Q2): $3.01 vs. $4.49 last year. -Analyst Estimates: $2.32 -Revenue (Q2): $8.05 Bln vs. $8.36 Bln last year.