UPDATE: AutoZone FQ3 Profit Up 6.8%

AutoZone AZO reported a 6.8% rise in its fiscal third-quarter earnings. AutoZone's quarterly profit surged to $265.6 million, or $7.27 per share, from $248.6 million, or $6.28 per share, in the year-ago period. Its revenue gained 4.5% to $2.21 billion, while same-store sales fell 0.1%. However, analysts were expecting earnings of $7.21 per share on revenue of $2.21 billion. AutoZone's gross margin widened to 51.8% from 51.6%. AutoZone shares closed at $409.05 yesterday.