Toll Brothers Inc, the largest U.S. luxury home builder, posted a quarterly net loss on Tuesday, hurt by weakened demand in most markets amid the nation's housing slump, but the results were not as bad as Wall Street had expected.
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(Reuters) -- The net loss totaled $93.7 million, or 59 cents per share, in the second quarter ended on April 30, compared with a year-earlier profit of $36.7 million, or 22 cents per share. Reuters Estimates said the company had lost 75 cents per share before a litigation-related gain, while analysts on average had expected a loss of 96 cents. Toll Brothers shares were up 3 percent in early trading. "Demand continues to be weak in most markets as our clients worry about selling their existing homes or entering the market before prices stabilize," Chief Executive Robert Toll said in a statement.
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