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CarMax 4th-qtr profit beats estimates
April 5, 2012 / 11:54 AM / 6 years ago

CarMax 4th-qtr profit beats estimates

April 5 (Reuters) - CarMax Inc, the largest retailer of used cars in the United States, posted a quarterly profit above analysts’ estimates as wholesale vehicle sales rose.

Net income rose to $95 million, or 41 cents a share, from $88.8 million, or 39 cents a share, a year ago.

Revenue rose 10 percent to $2.48 billion.

Wholesale vehicle sales rose 18 percent to $395.7 million.

Analysts on average had expected a profit of 40 cents a share on revenue of $2.41 b illion, according to Thomson Reuters I/B/E/S.

Shares of the company closed at $34.92 on Wednesday on the New York Stock Exchange.

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