RICHMOND, Va. (Sept. 22) - Car dealership chain CarMax says its fiscal second quarter profit surged on higher sales and a one-time gain related to its auto financing business.
The Richmond, Va.-based company that predominantly sells used vehicles says it earned $103 million, or 46 cents per share, for the three months ended Aug. 31. That was up from $14 million, or 6 cents per share, a year ago.
The results included a net gain of 10 cents per share related to its financing division.
Sales rose 13 percent to $2.08 billion.
Analysts surveyed by Thomson Reuters, on average, expected a profit of 18 cents per share on $1.77 billion in revenue.
