KB Home: Fiscal 2Q Earnings Snapshot
LOS ANGELES (AP) _ KB Home (KBH) on Wednesday reported fiscal second-quarter earnings of $52 million.
On a per-share basis, the Los Angeles-based company said it had profit of 55 cents.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The homebuilder posted revenue of $914 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $1.07 billion.
KB Home shares have fallen almost 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $33.33, an increase of 36% in the last 12 months.