CarMax revenue rises 11 pct as used car sales increase

Features Reuters

CarMax Inc, the largest U.S. used car retailer, reported a 11 percent rise in quarterly revenue as easier availability of credit boosted car sales.

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The company's revenue rose to $3.60 billion in the second quarter ended Aug. 31 from $3.25 billion a year earlier.

Net income rose to $154.5 million, or 70 cents per share, from $140.3 million, or 62 cents per share, a year earlier.

CarMax, which also sells new cars, said its used car sales rose 6.3 percent to 143,325 units in the quarter.