Toll Brothers’ earnings surge 29%

Beats expectations

Toll Brothers’ (TOL) revenue in its October quarter surged 29%, lifted by strong demand in the builder’s West Coast division, an article in the Wall Street Journal said. 

The homebuilder reported revenue of $1.35 billion for the quarter ended Oct. 31, beating the $1.31 billion expected, the article noted.

Revenue in its West Coast division jumped 25%, while revenue in its mid-Atlantic division climbed 17%.

 “For the first time in four quarters, our contracts were up in both dollars and units compared with the prior year’s same period,” said Chief Executive Douglas C. Yearley, Jr .

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