KB Home

Los Angeles Based KB Home’s Shares Jump with Higher Than Expected First Quarter Profits

Los Angeles Based KB Home’s Shares Jump with Higher Than Expected First Quarter

On Wednesday, KB Home, the Los Angeles, California based custom home builder's shares rose as the company reported better-than-expected first quarter earnings with a boost in revenue from homebuilding.

The company said its net income was $13.1 million or 14 cents a share. A strong homebuilding business helped in pushing the company's revenue by seventeen percent to $678.4 million for the first quarter.

The results surpassed the analysts' expectations. KB Home's shares increased 84 cents or 6.4 percent, to $13.94 during the after-hours trading.

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