Luxury-Home Builder Toll Brothers Beats Q2 Profit, Revenue Estimates

Luna Ruth

While everyone out there who wants to buy a home seems to be fighting off multiple offers, Toll Brothers, which builds luxury homes, appears to be doing just fine, even as interest rates rise.

The Fort Washington, Pa., homebuilder blew away Wall Street estimates for its fiscal second quarter ended April 30.

Toll Brothers earned $220.6 million, or $1.85 a share in the quarter compared with $1.01 in the year-earlier quarter. Revenue jumped 18% to $2.28 billion from $1.93 billion.

A survey of analysts by FactSet had been looking for quarterly earnings of $1.50 a share on total revenue of $2.08 billion.

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