UPDATE: CarMax Posts Higher Q1 Profit

CarMax KMX reported a rise in its first-quarter net earnings. CarMax's quarterly net profit surged to $146.7 million, or $0.64 per share, versus $120.7 million, or $0.52 per share, in the year-ago period. Its net sales and operating revenue climbed 19.5% to $3.31 billion from $2.77 billion. However, analysts were estimating earnings of $0.57 per share on revenue of $3.14 billion. CarMax's shares closed at $44.57 yesterday.