Luxury home builder Toll Brothers Inc. has reported a narrower-than-expected quarterly loss.

Toll’s third-quarter net loss widened to $472.3 million, or $2.93 per share, from a net loss of $29.3 million, or 18 cents per share, a year earlier.

The loss was slightly narrower than the $3.03 per share loss analysts had expected.

The company sold 792 homes in the quarter at an average price of $582,500, down more than 5 percent from the prior quarter, according to a statement.

Revenue was down 42 percent to $461.4 million.

Toll Bros. said deposits were up 26 percent in the first four weeks of its fiscal fourth quarter.

"We do see signs for optimism," Chief Executive Robert Toll said in a statement.