KB Home beats Street 4Q forecasts

LOS ANGELES (AP) _ KB Home (KBH) on Wednesday reported fiscal fourth-quarter net income of $84.3 million.

On a per-share basis, the Los Angeles-based company said it had profit of 84 cents.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The homebuilder posted revenue of $1.4 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $1.36 billion.

For the year, the company reported profit of $180.6 million, or $1.85 per share. Revenue was reported as $4.37 billion.

KB Home shares have climbed 7.5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $34.36, more than doubling in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KBH at https://www.zacks.com/ap/KBH