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CarMax profit rises 22 pct on higher used car sales
June 21, 2013 / 11:47 AM / 4 years ago

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.

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