January 25, 2019 / 11:37 AM / 6 months ago

Higher home sales boost D.R. Horton first-quarter profit

Jan 25 (Reuters) - U.S. homebuilder D.R. Horton Inc reported a 51.7 percent rise in quarterly profit on Friday, driven by increased demand for new houses as mortgage rates showed some signs of moderating from multi-year highs.

Net income attributable to the company rose to $287.2 million, or 76 cents per share, in the first quarter ended Dec. 31, from $189.3 million, or 49 cents per share, a year earlier.

Revenue rose 5.6 percent to $3.52 billion. (Reporting by Rama Venkat and Sanjana Shivdas in Bengaluru; Editing by Shounak Dasgupta)

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