KB Home Shares Gain On Robust Quarterly Earnings

Shares of KB Home gained in Tuesday's extended session after the home builder posted strong quarterly results. KB Home reported its second-quarter earnings rose to $31.8 million, or 33 cents a share, from $15.6 million, or 17 cents a share, a year earlier. Revenue grew 24% to $1 billion. Analysts surveyed by FactSet had forecast earnings of 26 cents a share on revenue of $930 million. The company also said its net order value increased 15% to $1.4 billion while backlog value jumped 19% to $2.2 billion and deliveries climbed 11% to 2,580 homes. Shares rose 1.3% after hours.