Shares of Lennar Corp. rose in premarket trading Tuesday, a day after the homebuilder posted a mixed second-quarter report, with revenue topping analysts' expectations but profit, new orders, and average sale price falling short.

Home sales revenues fell 7% to $7.8 billion, driven primarily by a decrease in the average sales price of homes delivered due to continued weak housing market trends, Lennar said.

Lennar's second-quarter revenue beat Wall Street estimates on Monday, as its incentives for home buyers lifted sales.

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Homebuilding stock Lennar Corp (NYSE:LEN) was up 1.8% to trade at $111.46 at last check, brushing off a fiscal second-quarter earnings miss after beating revenue expectations. While homebuyer incentives lifted sales,