KB Home /zigman2/quotes/206220859/composite KBH -5.64% shares dropped in the extended session Wednesday after the homebuilder reported a huge drop in housing orders because of the COVID-19 pandemic while turning in an earnings beat. KB Home shares fell 8% after hours, following a 2.2% decline in the regular session to close at $33.33. The company reported second-quarter net income of $52 million, or 55 cents a share, compared with $47.5 million, or 51 cents a share, in the year-ago period. Revenue declined to $914 million from $1.02 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 52 cents a share on revenue of $1.07 billion. Gross orders fell 4% in March, 59% in April, and 42% in May, as customers cancelled orders due to the pandemic, KB Home said. Easing of shelter-in-place restrictions, however, are resulting in an uptick, the company said, noting that gross orders for the first three weeks of June are up 4% from a year ago.