KB Home (NYSE:KBH) reported its first-quarter results today, which came in well ahead of expectations on the earnings front, while revenue missed the Wall Street outlook.

The home building company announced that the quarter yielded earnings of 40 cents per share to kick off its fiscal 2018, marking a 167% increase compared to the year-ago quarter. Analysts were calling for first-quarter earnings to double year-over-year to 30 cents per share, according to data compiled by Zacks Investment Research.

KB Home also provided strong revenue results as the company’s sales increased 6.5% compared to the year-ago quarter, reaching $871.6 million. The Wall Street consensus estimate called for revenue of $887 million, which would’ve marked an 8.3% gain, according to data compiled by Zacks.

Analysts were also calling for orders to grow by 6.3%, per Zacks, and KB Home surpassed this as net orders were 8% higher at $1.17 billion. Net orders were 8% higher as well, reaching 2,784 for the quarter.

The company’s deliveries were flat year-over-year at 2,223 homes, while the average selling price of a home rose 7% to 398,800. “We anticipate our housing gross profit margin will continue to strengthen throughout the year as we deliver more homes from newer, higher-margin communities,” said CEO and President Jeffrey Mezger said in the earnings release.

He added that KB Home experienced “good sales momentum.” Demand for housing is on the rise, especially with first-time buyers.

KBH stock fell about 0.8% after the bell Thursday.

editors note: a prior version of this story incorrectly identified KBH as a home improvement company, instead of a home building company.