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KB Home: Fiscal 4Q Earnings Snapshot

LOS ANGELES (AP) _ KB Home (KBH) on Thursday reported fiscal fourth-quarter profit of $123.2 million.

On a per-share basis, the Los Angeles-based company said it had net income of $1.31.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.

The homebuilder posted revenue of $1.56 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $1.6 billion.

For the year, the company reported profit of $268.8 million, or $2.85 per share. Revenue was nearly unchanged at $4.55 billion.

KB Home shares have climbed 8% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $37.01, an increase of 68% 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