CarMax (KMX) stock climbed 11% in premarket trading after the used car dealer’s first quarter earnings and revenue beat Wall Street expectations.
CarMax sold 379,727 cars in the first quarter, a 5.8% increase from the same period last year.
The company also reported earnings per share of $1.38, and revenue rose 6.1% to $7.55 billion, topping estimates.
CarMax CEO Bill Nash said that its omnichannel buying and selling experience “is a key differentiator in a very large and fragmented market that positions us to continue to drive sales, gain market share, and deliver significant year-over-year earnings growth for years to come.”