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KB Home: Fiscal 3Q Earnings Snapshot

KB Home: Fiscal 3Q Earnings Snapshot

Associated Press

LOS ANGELES (AP) _ KB Home (KBH) on Tuesday reported fiscal third-quarter earnings of $87.5 million.

On a per-share basis, the Los Angeles-based company said it had net income of 87 cents.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.

The homebuilder posted revenue of $1.23 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $1.27 billion.

KB Home shares have dropped 21 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $25.29, a climb of 20 percent in the last 12 months.

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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