KB Home Stock Soars on Higher Home Prices, Demand for Larger Homes
KB Home shares shot up on Wednesday as higher selling prices, demand for larger homes and increased household incomes all helped to drive revenues.
KB Home shares shot up on Wednesday after the home-builder topped quarterly sales and earnings views. Higher selling prices, demand for larger homes and increased household incomes all helped to drive revenues. KB Homes logged earnings of 12 cents a share, beating estimates of only 8 cents a share. Revenues also outperformed expectations at $450.69 million compared to estimates of only $405.22 million. Orders for new homes rose six percent due to expanded operations.
This article was written by a staff member of TheStreet.
