CarMax Inc. shares climbed on Wednesday, after the vehicle-buying website reported third quarter earnings that surpassed analysts’ expectations.
CarMax’s earnings for the three months ending in November rose +15% from the year-ago quarter to $1.63 per share, beating the Street forecast by 17 cents.
Revenues increased +64.5% year-over-year to $8.5 billion, exceeding analysts' expectations of $7.5 billion.
Retail vehicle sales rose +16.9% to 227,424 units. Wholesale increased 48.5% to 187,630 units.