CarMax shares fall after company misses earnings estimate

CarMax Inc. [s:kmx] said Thursday its second-quarter nett income fell astir 4% to $285.3 cardinal oregon $1.72 a share, from $296.7 million, oregon $1.79 a stock successful the year-ago period. The car retailer said net per stock fell owed to past year's Covid-related outgo savings. Sales roseate to $7.99 billion, a record, from $5.37 cardinal successful the year-ago period. Analysts expected net of $1.88 a stock and income of $6.91 billion, according to a survey by FactSet. Shares of CarMax fell astir 8% successful pre-market trades. The banal is up 55% truthful acold this twelvemonth compared to a 16% summation by the S&P 500 SPX, +0.16%.