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CarMax Inc. Q1 Income Drops, but beats estimates

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.

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