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PulteGroup Stock Jumps on Earnings Beat. ‘Shortage of Several Million Homes’ Spurs Demand.

Shaina Mishkin
·3 min read
PulteGroup Stock Jumps on Earnings Beat. ‘Shortage of Several Million Homes’ Spurs Demand.

New home sales were strong in March, and shares of one large builder was rising after it beat quarterly earnings expectations. PulteGroup stock was up about 4% on Tuesday after the home builder reported first-quarter earnings and revenue that topped Wall Street estimates on strong demand. New home sales increased to a seasonally adjusted annual rate of 693,000, up 8.8% from the month prior, and beating expectations for a rate of 670,000.

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