LOS ANGELES (AP) _ KB Home (KBH) on Tuesday reported fiscal third-quarter net income of $78.4 million.

The Los Angeles-based company said it had net income of 83 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The homebuilder posted revenue of $999 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $895.6 million.

KB Home shares have climbed 18% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $40.49, a climb of 28% 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

Automated Insights, source Associated Press News