LOS ANGELES (AP) _ KB Home (KBH) on Wednesday reported fiscal second-quarter profit of $143.4 million.
On a per-share basis, the Los Angeles-based company said it had net income of $1.50.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.
The homebuilder posted revenue of $1.44 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $1.48 billion.
KB Home shares have increased 29% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $43.38, an increase of 27% in the last 12 months.
The Associated Press