KB Home Rises Most in Three Years as Quarterly Loss Narrows
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KB Home, the Los Angeles-based homebuilder that targets first-time buyers, rose the most in three years after reporting a narrower quarterly loss as it sold more houses at higher prices.
The net loss for the fiscal second quarter ended May 31 was $24.1 million, or 31 cents a share, compared with a loss of $68.5 million, or 89 cents, a year earlier, the company said today in a statement. The average of 18 estimates in a Bloomberg survey was for a loss of 35 cents a share.