US homebuilder Lennar’s posts $8.38 billion revenue in second quarter
BENGALURU: Lennar’s second-quarter revenue beat Wall Street estimates on Monday, as its incentives for home buyers lifted sales. Shares of the U.S. homebuilder rose 2.3% after the bell. Lennar has used mortgage rate buydowns, price cuts and cost adjustments to maintain its sales pace during the quarter, offsetting the impact of rising mortgage rates and economic uncertainty. “As mortgage interest rates remained higher and consumer confidence continued to weaken, we drove volume with starts while incentivizing sales to enable affordability and help consumers to purchase homes,” said co-CEO Stuart Miller. Lennar posted second quarter revenue of $8.38 billion, above analysts’…