KB Home stock rise after earnings beat

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KB Home shares rose 8.5% in the extended session Thursday after the company topped consensus earnings estimates. KB Home reported first-quarter net income of $59.7 million, which amounts to 63 cents a share, versus net income of $30 million, or 31 cents a share, in the year-ago period. Revenue rose to $1.08 billion from $811.5 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 45 cents a share on revenue of $957.7 million. The company said that it was withdrawing its 2020 guidance due to the COVID-19 pandemic. KB Home stock has fallen 21% in the past year, with the S&P 500 index rising 12.2%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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