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CarMax tops Street 3Q forecasts

Used cars are displayed outside of a CarMax dealership in Burbank, California, on June 17, 2014.
Patrick T. Fallon | Bloomberg | Getty Images
Used cars are displayed outside of a CarMax dealership in Burbank, California, on June 17, 2014.

CarMax on Friday reported profit of $130 million in its fiscal third quarter.

On a per-share basis, the Richmond, Virginia-based company said it had profit of 60 cents.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The used car dealership chain posted revenue of $3.41 billion in the period, also exceeding Street forecasts. Analysts expected $3.26 billion, according to Zacks.

CarMax shares have climbed 29 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 12 percent. The stock has increased 15 percent in the last 12 months.

This story was generated by Automated Insights using data from Zacks Investment Research. KMX stock research report from Zacks.