January 8, 2020 / 11:07 AM / 10 days ago

Homebuilder Lennar's revenue rises 8% as lower rates boost demand

Jan 8 (Reuters) - Lennar Corp reported an 8% rise in quarterly revenue on Wednesday, benefiting from an increase in home sales on the back of lower mortgage rates.

Net income attributable to the company fell to $674.3 million, or $2.13 per share, in the fourth quarter ended Nov. 30, from $796.1 million, or $2.42 per share, a year earlier.

Revenue rose to $6.97 billion from $6.46 billion. (Reporting by Dominic Roshan K. L. in Bengaluru; Editing by Maju Samuel)

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