MIAMI (AP) — Lennar Corp. (LEN) on Tuesday reported fiscal second-quarter profit of $421.5 million.

On a per-share basis, the Miami-based company said it had net income of $1.30.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The homebuilder posted revenue of $5.56 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $5.11 billion.

Lennar shares have increased 31% since the beginning of the year, while the Standard & Poor's 500 index has climbed 17%. The stock has increased slightly in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on LEN at

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