RESTON, Va. (AP) — RESTON, Va. (AP) — NVR Inc. (NVR) on Wednesday reported first-quarter net income of $198.4 million.
The Reston, Virginia-based company said it had profit of $67.76 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $78.25 per share.
The homebuilder posted revenue of $1.83 billion in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $1.99 billion.
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