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Markets News

Homebuilder Lennar posts 30% jump in quarterly profit

Sept 14 (Reuters) - Lennar Corp reported a 30% rise in third-quarter profit on Monday as the U.S. homebuilder sold more homes at higher average prices during the COVID-19 pandemic.

Net earnings attributable to the company rose to $666.4 million, or $2.12 per share, in the quarter ended Aug. 31, from $513.4 million, or $1.59 per share, a year earlier.

Revenue rose marginally to $5.87 billion. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Aditya Soni)

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