(Boursier.com) — Toll Brothers, the American real estate developer, is gaining ground ahead of the stock market on Wall Street, as the group beat the consensus for the second fiscal quarter. Adjusted earnings per share were $2.85, versus $1.9 market consensus and $1.85 a year earlier. Net profit reached 320 million dollars against 221 million a year earlier. Revenues were 2.51 billion, against 2.28 billion a year earlier. The value of the backlog of contracts at the end of this second quarter was 8.4 billion dollars, down 28% compared to last year, with 7,574 units. Douglas C. Yearley, Jr., Group CEO, said: “As mortgage rates have stabilized and buyer confidence has improved, the surge in demand that began in January has continued. throughout our fiscal second quarter and into our third quarter.”
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