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PulteGroup, Inc. Q2 Profit Increases, beats estimates

PulteGroup, Inc. (PHM) announced earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $652.44 million, or $2.73 per share. This compares with $503.40 million, or $1.90 per share, in last year's second quarter.

Excluding items, PulteGroup, Inc. reported adjusted earnings of $652.44 million or $2.73 per share for the period.

Analysts on average had expected the company to earn $2.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.0% to $3.93 billion from $3.36 billion last year.

PulteGroup, Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $652.44 Mln. vs. $503.40 Mln. last year.
-EPS (Q2): $2.73 vs. $1.90 last year.
-Analyst Estimate: $2.63
-Revenue (Q2): $3.93 Bln vs. $3.36 Bln last year.

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