(Reuters) – Lennar Corp reported first-quarter profits above Wall Street estimates on Wednesday, as historically low existing home supply led to sustained demand for new home construction.
The second-largest U.S. homebuilder’s reported earnings of $2.57 per share surpassing analysts’ average estimate of $2.20 per share and above $2.06 per share a year earlier.
(Reporting by Ananta Agarwal in Bengaluru; Editing by Krishna Chandra Eluri)
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