Overview

• CarMax reported higher than expected earnings for its first fiscal quarter despite lower used vehicle sales.
• CarMax earned $1.44 per share, nearly double what analysts projected.
• CarMax made $228.3 million in profit, down 9.5% from the same period last year.
• Net revenue was $7.7 billion for the quarter, down 17.4% from a year ago.
• Used vehicle unit sales fell 9.6% with average selling prices decreasing 5.5% from last year.