UPDATE: CarMax Posts Downbeat Q3 Profit

CarMax KMX reported a gain in its third-quarter profit. CarMax's quarterly profit surged to $106.5 million, or $0.47 per share, versus $94.7 million, or $0.41 per share, in the year-ago period. Its revenue climbed to $2.9 billion from $2.6 billion. However, analysts were projecting earnings of $0.48 per share on revenue of $2.9 billion. CarMax shares closed at $53.05 yesterday.