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KMX Stock Revs 17%+ Higher on CarMax Earnings Beat

Revenue rose strongly compared to last year


On Friday, used car retail chain CarMax (KMX) posted better-than-expected quarterly earnings and revenue, sending KMX stock soaring more than 17% in midday trading.

Carmax 185KMX stock jumped after CarMax reported a fiscal first-quarter profit of $169.7 million, up from $146.7 million in the year-ago quarter. EPS came in at 76 cents, easily beating the 66 cents that analysts had anticipated, the Wall Street Journal notes.

CarMax recorded revenue of $3.75 billion during the quarter, up 13% year-over-year, and topping the $3.59 billion that Wall Street was looking for.

KMX stock closed at $45.28 per share on Thursday.

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