CarMax: Fiscal 2Q Earnings Snapshot

RICHMOND, Va. (AP) _ CarMax Inc. (KMX) on Thursday reported fiscal second-quarter profit of $296.7 million.

The Richmond, Virginia-based company said it had profit of $1.79 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.

The used car dealership chain posted revenue of $5.37 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $5.21 billion.

CarMax shares have climbed 21% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has risen 22% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KMX at https://www.zacks.com/ap/KMX

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