Lennar Corp reported third-quarter profit above Wall Street estimates on Thursday, as a historically low housing supply kept demand strong and declining fixed mortgage rates lured in more skittish buyers to the market.

Lennar Corp posted a higher third-quarter profit on Thursday, compared with a year earlier, as a historically low housing supply kept demand strong, with declining fixed mortgage rates luring in more skittish buyers to the market.

Homebuilder Lennar reported its third-quarter financial results after Thursday's closing bell. Here's a look at the details from the report.

Adobe outperformed its Q3 earnings expectations, showing strong revenue growth and robust performance across key business segments.

Lennar Corporation LEN reported third-quarter fiscal 2024 results, wherein its earnings and revenues surpassed the Zacks Consensus Estimate. On a year-over-year basis, revenues increased, given the company’s emphasis on maintaining a steady production rate to drive sales momentum.

Lennar (NYSE:LEN) stock dipped 3.7% in Thursday after-hours trading after the company's guidance for Q4 gross margin trailed the average analyst estimate as incentives continued to help drive new orders.