KB Home: Fiscal 1Q Earnings Snapshot
LOS ANGELES (AP) _ KB Home (KBH) on Thursday reported fiscal first-quarter earnings of $59.7 million.
The Los Angeles-based company said it had net income of 63 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The homebuilder posted revenue of $1.08 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $950.4 million.
KB Home shares have decreased 45% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.02, a fall of 21% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KBH at https://www.zacks.com/ap/KBH