LOS ANGELES (AP) — LOS ANGELES (AP) — KB Home (KBH) on Monday reported fiscal first-quarter net income of $109.6 million.
The Los Angeles-based company said it had profit of $1.49 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.
The homebuilder posted revenue of $1.39 billion in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $1.5 billion.
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