KB Home Rises Most in 3 Months as Profit Tops Estimates
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KB Home rose the most in almost three months after the builder reported a fiscal first-quarter profit that beat estimates as revenue and prices soared.
Net income for three months ended Feb. 28 was $10.6 million, or 12 cents a share, compared with a loss of $12.5 million, or 16 cents, a year earlier, the Los Angeles-based homebuilder said today in a statement. It was the first time KB Home had a profit for the first quarter since 2007. The average estimate of 16 analysts was for earnings of 9 cents a share, according to data compiled by Bloomberg.