ATLANTA (AP) -- PulteGroup Inc. on Tuesday reported first quarter earnings of $166.8 million.
On a per-share basis, the Atlanta company said it had profit of 59 cents.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The homebuilder posted revenue of $2 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $1.92 billion.
PulteGroup shares have increased 16% since the beginning of the year, while the Standard & Poor's 500 index has climbed 16%. The stock has increased 5% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PHM at https://www.zacks.com/ap/PHM