UPDATE: D.R. Horton Reports FQ2 Profit of $27.8 million

D.R. Horton Inc DHI reported its results for the fiscal second quarter on Friday. The company's FQ2 profit increased to $27.8 million, or $0.09 per share, from $11.4 million, or $0.04 per share, in the year-ago period. The latest quarter results included a tax benefit of $59.2 million. The company's revenue fell 18% to $733.1 million. However, analysts expected a loss of $0.05 per share on revenue of $761 million. The company's home-sales gross margin declined to 16.2% from 18%. DHI shares gained 0.83% to $12.20 in pre-market trading. Read more from Benzinga's Company news.