Lennar Shares Slide After 'Weakness In The Market' Leads To Lower Sales Prices And Gross Margin

Lennar Corp. (NYSE:LEN) released its first-quarter results after Thursday's closing bell. Here's a look at the details from the report. 

The Details: Lennar reported quarterly earnings of $2.14 per share. which beat the analyst consensus estimate of $1.73. Quarterly GAAP revenue came in at $7.63 billion, beating the consensus estimate of $7.43 billion.

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For the first quarter, Lennar reported:

New orders increased 1% to 18,355 homes; new orders dollar value decreased 4% to $7.4 billion.

Backlog of 13,145 homes with a dollar value ...