MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — AutoZone Inc. (AZO) on Tuesday reported fiscal first-quarter profit of $530.8 million.
On a per-share basis, the Memphis, Tennessee-based company said it had profit of $31.04.
The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $32.24 per share.
The auto parts retailer posted revenue of $4.63 billion in the period, also missing Street forecasts. Eight analysts surveyed by Zacks expected $4.64 billion.
AutoZone shares have risen 18% since the beginning of the year, while the S&P’s 500 index has climbed 16%. The stock has climbed 14% in the last 12 months.
