ARLINGTON, Texas (AP) — ARLINGTON, Texas (AP) — D.R. Horton Inc. (DHI) on Tuesday reported fiscal first-quarter net income of $947.4 million.

The Arlington, Texas-based company said it had profit of $2.82 per share.

The results missed Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of $2.88 per share.

The homebuilder posted revenue of $7.73 billion in the period, topping Street forecasts. Seventeen analysts surveyed by Zacks expected $7.62 billion.

D.R. Horton expects full-year revenue in the range of $36 billion to $37.3 billion.

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