CarMax profit rises 22 pct on higher used car sales
June 21 (Reuters) - CarMax Inc, the largest used-car retailer in the United States, reported a 22 percent rise in quarterly profit as it sold more cars at higher prices.
Net income rose to $146.7 million, or 64 cents per share, in the first quarter from $120.7 million, or 52 cents per share, a year earlier.
Revenue rose 19 percent to $3.31 billion.
CarMax, which also sells some new cars, has over 100 lots across the United States and plans to open 13 more by May 2014.
- U.S., Arab partners launch first strikes on IS in Syria |
- Qatar adamant it will host 2022 World Cup despite doubts
- Argentina's Fernandez to meet billionaire investor Soros in New York
- Ebola could strike 20,000 in six weeks, 'rumble on for years': study
- More Americans than ever have never married: survey