CarMax Inc. Announces Drop In Q1 Bottom Line, but beats estimates

(RTTNews) - CarMax Inc. (KMX) reported a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $228.30 million, or $1.44 per share. This compares with $252.27 million, or $1.56 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 17.4% to $7.69 billion from $9.31 billion last year.

CarMax Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $228.30 Mln. vs. $252.27 Mln. last year. -EPS (Q1): $1.44 vs. $1.56 last year. -Analyst Estimates: $0.79 -Revenue (Q1): $7.69 Bln vs. $9.31 Bln last year.