BLOOMFIELD HILLS, MICH. (
didn't get the memo that the housing market is about to make a comeback.
The home builder widened its loss in the second quarter to $189.5 million, or 74 cents a share, compared with a loss of $158.4 million, or 63 cents, in the year-ago period. Analysts expected a loss of 57 cents.
Revenue more than halved to $679 million from $1.63 billion in the year prior.
Shares of Pulte ended the day up 3% to $11.76, but fell 1% in after-market trading.
In contrast to Pulte's troubles, Rival
, even as revenue was nearly halved.
Likewise, earlier today, the Commerce Department announced that
construction spending increased 0.3% in June
, surpassing analysts' forecast.
-- Reported by Jeanine Poggi in New York.
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