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Lennar beats quarterly revenue estimates on housing market strength

Dec 16 (Reuters) - Homebuilder Lennar Corp beat quarterly revenue estimates on Wednesday, benefiting from a strong U.S. housing market boosted by record low mortgage rates and a surge in suburban housing demand as the COVID-19 pandemic drags on.

Revenue fell to $6.83 billion in the fourth quarter ended Nov. 30, from $6.97 billion a year earlier. Analysts were expecting revenue of $6.65 billion, according to IBES data from Refinitiv. (Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli)

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