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Toll Brothers (TOL) CEO Yearley Discusses Q3 Results on CNBC

NEW YORK (TheStreet) -- Toll Brothers (TOL) CEO Douglas Yearley appeared on CNBC's "Power Lunch" on Tuesday afternoon to discuss the luxury home-building company's 2016 third quarter earnings.

Before today's market open, the company reported earnings of 61 cents per share, which were in line with analysts' expectations. Revenue rose 23.5% to $1.27 billion, above analysts' estimates of $1.25 billion.

The company benefited from the overall housing market, as sales of newly built homes rose 12.4% in July from a month earlier to a seasonaly...