D.R. Horton Inc. (DHI) Profit Falls, Beats Wall Street
Home builder D.R. Horton Inc. on Tuesday said its fiscal fourth-quarter profit fell 51 percent as less homes closed in a sagging market, but results still came in ahead of Wall Street expectations.
Quarterly net income for the three months ended Sept. 30 sank to $277.7 million, or 88 cents per share, compared with a profit in the year-ago quarter of $563.8 million, or $1.77 per share.
Revenue fell 4 percent to $4.8 billion, from $5.02 billion a year ago.
Analysts polled by Thomson Financial expected a profit of 69 cents per share on revenue of $3.93 billion.
Quarterly net income for the three months ended Sept. 30 sank to $277.7 million, or 88 cents per share, compared with a profit in the year-ago quarter of $563.8 million, or $1.77 per share.
Revenue fell 4 percent to $4.8 billion, from $5.02 billion a year ago.
Analysts polled by Thomson Financial expected a profit of 69 cents per share on revenue of $3.93 billion.
Labels: D.R. Horton Inc., DHI, homebuilders
posted by Stock Administrator @ 7:35 AM
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