UPDATE: CarMax Reports Better-Than-Expected Q1 Results; Shares Jump In Pre-Market Trading

CarMax Inc KMX posted better-than-expected first-quarter results on Wednesday. CarMax reported its quarterly net income at $126.3 million, or $0.55 per share, up from $101.1 million, or $0.44 per share, in the year-ago period. Its revenue surged 18.5% to $2.68 billion. CarMax's used vehicle sales climbed 13%. Analysts were expecting earnings of $0.47 per share on revenue of $2.53 billion. CarMax shares jumped 7.47% to $32.80 in pre-market trading. Read more from Benzinga's Company news.