KB Home Rises After Third-Quarter Results Beat Estimates
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KB Home, the Los Angeles-based homebuilder that focuses on first-time buyers, climbed in New York trading after it reported order growth and a narrower-than-estimated third-quarter loss.
The loss for the three months ended Aug. 31 was $9.6 million, or 13 cents a share, compared with $1.4 million, or 2 cents, a year earlier, KB Home said in a statement today. Analysts predicted a loss of 19 cents a share, the average of 17 estimates in a Bloomberg survey. Orders jumped 40 percent.