The Richmond, Va.-based chain, which operates a dealership in West Carrollton near the Dayton Mall, earned $140.3 million, or 62 cents per share, for the three months ended Aug. 31. That compares with $111.6 million, or 48 cents per share, in the 2012 second quarter.
Analysts, on average, expected earnings of 57 cents per share, according to a FactSet survey.
Shares of CarMax climbed $2.34, or 4.7 percent, to $52.35 before the market open.
Revenue increased 18 percent to $3.25 billion from $2.76 billion. Wall Street expected revenue of $3.17 billion.
Sales of used cars climbed more than 20 percent. Wholesale sales rose nearly 9 percent on an increase in the appraisal buy rate and more stores being open. New car sales, which make up a smaller part of CarMax’s business, fell 2 percent. Other sales and revenue, which includes fees it receives from third-party lenders its customers use, increased 5 percent.