AutoZone beats 2Q net income and revenue expectations

MarketsAssociated Press

AutoZone Inc. (AZO) on Tuesday reported fiscal second-quarter profit of $211.7 million.

On a per-share basis, the Memphis, Tennessee-based company said it had net income of $6.51.

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The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $6.37 per share.

The auto parts retailer posted revenue of $2.14 billion in the period, which also beat Street forecasts. Analysts expected $2.12 billion, according to Zacks.

AutoZone shares have increased roughly 5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 3 percent. The stock has increased 21 percent 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 AZO at http://www.zacks.com/ap/AZO

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Keywords: AutoZone, Earnings Report