Toll Brothers profit doubles on higher selling prices
Sept 3 (Reuters) - Toll Brothers Inc's quarterly income more than doubled as the largest U.S. luxury homebuilder sold more homes at higher prices.
The company's net income jumped to $97.7 million, or 53 cents per share, in the third quarter from $46.6 million, or 26 cents per share, a year earlier.
Revenue rose 53 percent to $1.06 billion in the three months ended July 31 - a period just after the spring selling season, which is to homebuilders what the holiday shopping season is to retailers.
(Reporting by Sagarika Jaisinghani in Bangalore; Editing by Gopakumar Warrier)
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