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KB Home stock jumps on strong earnings

A KB Home sign stands in front of a house under construction in Lake Forest, California.
Patrick Fallon | Bloomberg | Getty Images
A KB Home sign stands in front of a house under construction in Lake Forest, California.

KB Home's shares were up sharply on Friday after the company reported better-than-expected first quarter earnings.

The homebuilder posted earnings per share of 8 cents on revenue of $580 million. Analysts polled by Thomson Reuters had expected earnings of 2 cents per share on $474.9 million in revenue.

KB Home attributed its strong numbers to more houses sold at higher prices. The company delivered 1,593 homes in the first quarter, about 10 percent higher than a year ago.

Up until Thursday's close the stock was down 13.9 percent this year.

—Reuters contributed to this report.