Auto Parts Retailer AutoZone Profit Beats Estimates

Features Reuters

AutoZone Inc (AZO), the second largest U.S. auto parts retailer, reported a higher-than-expected quarterly profit, helped by lower gas prices and colder-than-usual weather that encouraged customers to ready their cars for a harsh winter.

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Net income rose to $238.3 million, or $7.27 per share, in the first quarter ended Nov. 22 from $218.1 million, or $6.29 per share, a year earlier.

Revenue rose 8 percent to $2.26 billion.

Analysts on average had expected earnings of $7.16 per share and revenue of $2.21 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Kirti Pandey)