D.R. Horton Inc. -0.31% soared 1.8% to a 15-month-high in premarket trade Thursday after the homebuilder announced big fiscal second quarter profit and revenue beatings, as demand improved despite higher mortgage interest rates. The net income for the three months ending March 31 dropped to $942.2m, or $2.73 per share. This was down from $1.44billion, or $4.03 per share in the previous quarter. However, this was still well above the FactSet consensus estimate of $1.93. The revenue fell 0.3%, to $7.97billion. However, it was still well above the FactSet consensus estimate of $6.45billion. The number of net sales orders decreased by 5%, to 23,142 houses. However, the total value of orders fell 11% to 8,6 billion dollars. This was better than expected with orders of 19,792 homes and a value of $7.14 Billion. The pre-tax profit margin decreased from 23.5% to 15.6% due to a 7.3% decrease in home sales gross and a 0.5% rise in homebuilding expenses as a percentage of revenue. The company is expecting revenue to be between $31.5 billion and $33.0 billion for the entire fiscal year. This is above the FactSet consensus of $28.4billion. The stock is up 14.3% for the year so far, according to data through Wednesday. Meanwhile, the iShares U.S. Home Construction ETF ITB +0.28% and S&P 500 SPX, -0.01% are both up 20.3%.