CarMax Third-Quarter Profit More Than Doubles

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CarMax Third-Quarter Profit More Than Doubles

Reuters2023-12-21

Pre-owned car retailer CarMax on Thursday posted a higher third-quarter profit after previously implemented cost cuts helped it offset headwinds from lower demand.

The company posted a quarterly profit of $82 million, or 52 cents per share, for the quarter ended Nov. 30, compared with $37.6 million, or 24 cents per share, a year ago.

Stocks rose over 5% in premarket trading.

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