ARLINGTON, Texas (AP) _ D.R. Horton Inc. (DHI) on Tuesday reported fiscal first-quarter profit of $791.8 million.
On a per-share basis, the Arlington, Texas-based company said it had profit of $2.14.
The results beat Wall Street expectations. The average estimate of 21 analysts surveyed by Zacks Investment Research was for earnings of $1.72 per share.
The homebuilder posted revenue of $5.93 billion in the period, which also beat Street forecasts. Twenty analysts surveyed by Zacks expected $5.59 billion.
D.R. Horton expects full-year revenue in the range of $25.2 billion to $25.8 billion.
D.R. Horton shares have increased 15% since the beginning of the year, while the Standard & Poor’s 500 index has climbed roughly 3%. The stock has climbed 34% in the last 12 months.
