NVR Inc. (NVR), a homebuilding and mortgage banking company, on Wednesday reported that net income for the second quarter nearly doubled to $321.3 million or $82.45 per share from $164.1 million or $42.50 per share in the year-ago quarter.
Consolidated revenues for the quarter grew 41 percent to $2.28 billion from $1.62 billion in the same quarter last year.
On average, six analysts polled by Thomson Reuters expected the company to report earnings of $72.53 per share on revenues of $2.19 billion for the quarter. Analysts' estimates typically exclude special items.
New orders for the quarter decreased 9 percent to 5,521 units from 5,901 units in the prior-year quarter. The average sales price of new orders increased 20 percent to $440,200 from the prior-year quarter.
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