CarMax: Fiscal Q2 Earnings Snapshot

RICHMOND, Va. (AP) _ CarMax Inc. (KMX) on Thursday reported fiscal second-quarter profit of $285.3 million.

The Richmond, Virginia-based company said it had net income of $1.72 per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.95 per share.

The used car dealership chain posted revenue of $7.99 billion in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $7.18 billion.

CarMax shares have increased 55% since the beginning of the year, while the S&P’s 500 index has increased 16%. The stock has climbed 57% in the last 12 months.