MIAMI (AP) _ Lennar Corp. (LEN) on Monday reported fiscal second-quarter net income of $517.4 million.
On a per-share basis, the Miami-based company said it had profit of $1.65.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.
The homebuilder posted revenue of $5.29 billion in the period.
Lennar shares have increased 14% since the beginning of the year, while the Standard & Poor's 500 index has fallen 5%. In the final minutes of trading on Monday, shares hit $63.50, a rise of 20% in the last 12 months.