Pursuits
KB Home Shares Rise After Builder Reports 33% Order Jump
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KB Home rose the most since 2012 after reporting fiscal second-quarter earnings that beat analysts’ estimates and a jump in orders for houses.
Net income for the three months through May was $9.6 million, or 10 cents a share, compared with $26.6 million, or 27 cents, a year earlier, the Los Angeles-based homebuilder said in a statement Friday. The average estimate of 15 analysts was for earnings of 8 cents a share, according to data compiled by Bloomberg. Net orders rose 33 percent from a year earlier to 3,015 homes.