CarMax Stock Jumps As KMX Earnings Top With Used Car Prices Spiking 28%
CarMax reported better-than-expected quarterly earnings early Friday as strong pricing for used cars offset weaker volumes. CarMax stock jumped Friday, retaking a key level. "GPUs (gross profit per unit) were especially strong, above the historical band despite the increase in wholesale prices," Stephens analyst Daniel Imbro wrote in a note to clients on Friday.