CarMax's Profit, Sales Rise Above Expectations

CarMax Inc. reported on Friday a fiscal third-quarter profit of $130 million, or 60 cents a share, up from $106.5 million, or 47 cents a share, in the year-earlier period. That exceeded the FactSet consensus analyst estimate of 54 cents. The used car retailer said revenue for the quarter ended Nov. 30 rose 16% to $3.41 billion, while used unit same-store sales climbed 7.4%, exceeding analyst forecasts of $3.27 billion and 3.9% growth, respectively. Total used unit sales grew 14% to $2.79 billion. The stock, which was still inactive in premarket trade, has run up 29% this year through Thursday, compared with a 12% gain in the S&P 500.