KB Home Stock Soars on Higher Home Prices, Demand for Larger Homes

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KB Home Stock Soars on Higher Home Prices, Demand for Larger Homes

by TheStreet.com Videos 0:53 mins

KB Home Stock Soars on Higher Home Prices, Demand for Larger Homes

by TheStreet.com Videos 0:53 mins

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.

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