CarMax reported revenue of $7.7 billion in the quarter, more than double last year’s total of $3.229 billion amid strong demand for used cars. The FactSet analyst consensus called for revenue of $6.183 billion in the latest quarter.
Net income totaled $436.8 million, or $2.63 a share, up from $4.98 million, or 3 cents a share, a year ago. Analysts predicted $1.63 a share for the latest quarter.
Government stimulus money helped boost demand, CarMax said.
Shares traded at $126, up 5.5%, in premarket trading Friday and have soared 29% in the past six months.
"Our strong performance, which included record net revenue and profitability, reflects the strength of our omni-channel experience and diversified business model across retail, wholesale and CarMax Auto Finance,” said Chief Executive Bill Nash.