MIAMI (AP) _ Lennar Corp. (LEN) on Tuesday reported fiscal first-quarter earnings of $1 billion.

The Miami-based company said it had net income of $3.20 per share. Earnings, adjusted for non-recurring gains, came to $2.04 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.

The homebuilder posted revenue of $5.33 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $5.08 billion.

Lennar shares have climbed 16% since the beginning of the year, while the S&P's 500 index has risen 5.5%. In the final minutes of trading on Tuesday, shares hit $88.71, more than doubling in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LEN at https://www.zacks.com/ap/LEN

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