MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — AutoZone Inc. (AZO) on Tuesday reported fiscal first-quarter profit of $564.9 million.
On a per-share basis, the Memphis, Tennessee-based company said it had net income of $32.52.
The results did not meet Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $33.54 per share.
The auto parts retailer posted revenue of $4.28 billion in the period, also falling short of Street forecasts. Nine analysts surveyed by Zacks expected $4.29 billion.
AutoZone shares have risen 29% since the beginning of the year, while the S&P’s 500 index has climbed 27%. The stock has risen 26% in the last 12 months.
