Lennar Corp. Q3 Profit Rises, Beats estimates

(RTTNews) - Lennar Corp. (LEN.B) released earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $1.47 billion, or $5.03 per share. This compares with $1.41 billion, or $4.52 per share, in last year's third quarter.

Analysts on average had expected the company to earn $4.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 28.7% to $8.93 billion from $6.94 billion last year.

Lennar Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $1.47 Bln. vs. $1.41 Bln. last year. -EPS (Q3): $5.03 vs. $4.52 last year. -Analyst Estimate: $4.90 -Revenue (Q3): $8.93 Bln vs. $6.94 Bln last year.