D.R. Horton misses earnings expectations
Only the Southeast posts strong results
Homebuilder D.R. Horton missed earnings expectations for the final quarter of the year as its home sales fell in all regions but the Southeast, an article in Reuters said.
The company's homebuilding revenue increased 4.5% in the quarter - the smallest growth in more than four years.
The Fort Worth, Texas-based company's net income rose to $157.7 million, or 42 cents per share in the first quarter ended Dec. 31, from $142.5 million, or 39 cents per share, a year earlier.