KB Home (KBH – Analyst Report) released their first quarter fiscal 2016 earnings results, posting earnings of $0.14 per share and revenue of $678 million.

Currently, KBH has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key takeaways form the just announced report below:

KB Home:

1. Beat earnings estimates. The company reported $0.14 per share, surpassing our Zacks Consensus Estimate of $0.11.

2. Topped revenue estimates. The company saw revenue figures of $678 million, beating our estimate of $633 million and reflecting an increase of 17%.

3. Reported a 9% increase in net order value to $825 million.

4. “We are off to a strong start to 2016,” said Jeffrey Mezger, president and chief executive officer. “Solid execution on our key operating strategies drove measurable growth in revenues, operating margin and earnings. We ended the quarter with a healthy backlog and continued positive momentum in our core homebuilding business, reinforcing our favorable outlook for the full year.”

5. KBH was up $0.98, or 7.48%, to $14.08 as of 4:50 PM EST in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at KB Home’s quarterly revenue and growth rate:

KB Home (KBH – Analyst Report) Quarterly Revenue & Growth Rate | FindTheCompany

KB Home is a builder of single-family homes with domestic operations in several western states, and international operations in France. Domestically, the company builds innovatively designed homes which cater primarily to first-time home buyers, generally in medium-sized developments close to major metropolitan areas. Internationally, the company also builds commercial projects and high density residential properties such as condominium complexes.