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Homebuilder D R Horton beats profit estimate, ups 2018 forecast

Published Fri, Nov 10, 2017 · 09:50 PM
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Bengaluru

HOMEBUILDER D R Horton Inc reported a better-than-expected quarterly profit on Thursday and raised its fiscal 2018 revenue and cash flow forecasts, further evidence that a strong US job market is feeding through to demand for houses.

Horton's shares rose as much as 2.5 per cent in morning trading, hitting a record-high of US$46.55.

Housing demand in the United States declined sharply for fo…

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