BOSTON (Reuters) - No. 2 U.S. homebuilder PulteGroup Inc swung to a profit in the second quarter, helped by tax benefits and lower land-related charges, as the nation's housing market pulls out of a prolonged slump.
Pulte posted a net profit of $76 million, or 20 cents per share, compared with a year-earlier loss of $189.5 million, or 74 cents per share. The company had also recorded a net loss in the first quarter.
Revenue almost doubled to $1.31 billion.
The Bloomfield, Michigan-based company said demand had stabilized at a low level after declining following the April expiration of a U.S. tax credit for first-time homebuyers.
"Any significant housing recovery will require a stronger economy, higher employment and greater overall consumer confidence," Chief Executive Officer Richard Dugas said in a statement.
(Reporting by Scott Malone; Editing by Lisa Von Ahn, Dave Zimmerman)
