RICHMOND, Va. (AP) _ CarMax Inc. (KMX) on Friday reported fiscal first-quarter net income of $436.8 million.
The Richmond, Virginia-based company said it had profit of $2.63 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.
The used car dealership chain posted revenue of $7.7 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $6.19 billion.
CarMax shares have increased 26% since the beginning of the year, while the S&P’s 500 index has increased 14%. The stock has increased 34% in the last 12 months.
