Toll Brothers revenue misses mark, cuts FY gross margin
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Bengaluru
TOLL Brothers Inc's quarterly revenue missed Wall Street estimates as the US luxury homebuilder sold homes at lower prices and the company cut the top end of its full-year gross margin forecast.
Toll, which builds homes that can cost upwards of US$2 million, said its average selling price per home fell 6.1 per cent to US$791,400 in the third quarter ended July 31.
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