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PulteGroup tops earnings outlook
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ATLANTA (AP) — PulteGroup Inc. on Thursday reported third-quarter net income of $140.5 million.

On a per-share basis, the Atlanta-based company said it had earnings of 37 cents.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The homebuilder posted revenue of $1.59 billion in the period, meeting Street forecasts. That’s up from $1.58 billion a year ago.

The company also said that its board has approved a stock buyback of up to $750 million and raised its quarterly dividend 60 percent, to 8 cents.

The company’s shares added 22 cents, or 1.2 percent, to $19.40 in late morning trading. The stock has traded in the range of $16.48 to $21.65 in the past 52 weeks.