LOS ANGELES (AP) _ KB Home (KBH) on Tuesday reported fiscal first-quarter net income of $30 million, after reporting a loss in the same period a year earlier.
The Los Angeles-based company said it had net income of 31 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The homebuilder posted revenue of $811.5 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $829.3 million.
KB Home shares have climbed 26 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $24.11, a drop of 15 percent 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