Shares of CarMax(KMX Quote) were among the NYSE's winners Wednesday, rising 9% after the operator of used-car dealerships posted better-than-expected second-quarter results and raised its full-year projections.
For the period ended Aug. 31, CarMax earned $54.3 million, or 50 cents a share, on revenue of $1.93 billion. Analysts polled by Thomson First Call expected earnings of 41 cents a share and revenue of $1.85 billion. During the year-earlier period, the company earned $37.6 million, or 35 cents a share, on revenue of $1.63 billion.
Looking ahead, CarMax now sees full-year earnings of $1.55 to $1.65 a share, well above its previous view of $1.25 to $1.47 a share. Analysts, on average, project earnings of $1.50 a share. The company's shares were trading up $3.43 to $43.57. ...
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