CarMax Shares Slide on Profit Miss in Latest Quarter

Shares of CarMax (KMX) - Get Report  were lower in Tuesday's trading session after the company reported earnings for its latest quarter that missed Wall Street forecasts. The used-car business reported earnings of $0.90 a share, that's up 4.7 percent from the same period last year. Revenue came in at $4.1 billion, up 2.8 percent from a year ago. CarMax also bought back 2.6 million shares of common stock for $132 million in the first quarter and it has $1.27 billion available under its share repurchase plan.

This article was written by a staff member of TheStreet.