DR Horton, Inc. (NYSE:DHI) saw its share prices surge by 16.98% on Tuesday after beating earnings guidance for Q3 of fiscal year 2025. Revenues were $9.22 billion, slightly lower than last year but above analyst expectations. Net income dropped by 24% year-on-year to $1.02 billion.

Executive Chairman David Auld mentioned that new home demand continues to be affected by affordability constraints and cautious consumer sentiment. Sales incentives are expected to remain high in Q4. However, D.R. Horton revised its full-year revenue guidance to $34.2 billion and homes closed to 85,000, down from previous estimates.

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Read more at Yahoo Finance: DR Horton (DHI) Jumps 17% After Earnings Beat