Pulte loss narrows ahead of expected full-year profit

PulteGroup said its first-quarter loss narrowed to $12m, or 3 cents a share, from $515m, or $2.02 a share, a year earlier. The home builder saw improvements in gross margins and a reduction in land-related charges as total revenue rose 75% to $1bn. the company said that based on the first quarter results it expects to be profitable for the full year.

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