CarMax Inc. Q1 Income Drops, but beats estimates

(RTTNews) - CarMax Inc. (KMX) revealed earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $252.27 million, or $1.56 per share. This compares with $436.76 million, or $2.63 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 20.9% to $9.31 billion from $7.70 billion last year.

CarMax Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $252.27 Mln. vs. $436.76 Mln. last year. -EPS (Q1): $1.56 vs. $2.63 last year. -Analyst Estimates: $1.49 -Revenue (Q1): $9.31 Bln vs. $7.70 Bln last year.